Cryptocurrency Adoption Rate
As the cryptocurrency adoption rate increases every day across the globe and many countries are using bitcoin in their daily business transactions and this has in so many ways help in boosting the economy, of recent many countries have being accepting tax payment in crypto as in Florida.
Among others but to the other side of it is coming about Thailand Puting a ban on making cryptocurrency transaction by it commercial counterparts, this statement was made by the Thailand SEC.
It could be recalled on how Thailand has recorded a massive growth in the crypto space with over 600% increase in transaction volume as at last year while over $3 billion worth of cryptocurrency user asset was recorded since the beginning of 2022.
This “ban” is effective starting from 1st of April, 2022, all their financial institutions will be unavailable to carryout transaction in bitcoin or any other crypto asset and in making payments for goods and services.
It is also good to note that this crypto ban only affect their banks and any use of crypto as a payment media for goods and services but individuals trading and investment in cryptocurrency is not banned and a good alternative to this is using P2P for transactions in other to have a continuous crypto runnings and operations from been pause in the region.