2013-08-1 Bitcoin is NOT illegal in Thailand

Viceroy

hero member

Activity: 924

Merit: 501

Quote from: Viceroy on August 02, 2013, 09:34:22 AM

"THAILAND MAKES BITCOINS ILLEGAL BECAUSE ITS LAWS ARE TOO OLD-FASHIONED"
http://www.fastcompany.com/3015007/fast-feed/thailand-makes-bitcoins-illegal-because-its-laws-are-too-old-fashioned

"A bitcoin company says the virtual currency is illegal in Thailand"
http://blogs.marketwatch.com/thetell/2013/07/29/bitcoin-now-illegal-in-thailand/?mod=MW_latest_news

"Thai central bank rules Bitcoin to be illegal"
http://www.wired.co.uk/news/archive/2013-07/29/bitcoin-illegal-in-thailand

Well somebody better go tell the news media that bitcoin is not illegal because it certainly looks illegal...

http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNECO5607300010005

https://bitcoin.co.th/news/

https://bitcointalksearch.org/topic/m.2854028

aigeezer

legendary

Activity: 1450

Merit: 1013

Cryptanalyst castrated by his government, 1952

Quote from: dave111223 on August 01, 2013, 11:31:06 PM

aigeezer: You commend goat on fighting against the first story, due to lack of verifiable sources, but then go on to take follow-on story as Gospel?

Don't put words in my mouth. What I said was "I imagine this view will prevail, although it's still "he said, she said" at the moment."

dave111223

legendary

Activity: 1190

Merit: 1001

aigeezer: You commend goat on fighting against the first story, due to lack of verifiable sources, but then go on to take follow-on story as Gospel?

So 2 days ago Frankie Bishop was saying:

Quote

Frankie Bishop, a virtual currency consultant based out of Chiang Rai in northern Thailand, said that bringing attention to Bitcoin’s uncertain legal status in Thailand is a positive move, because the currency is both disruptive and potentially hugely beneficial to people in underdeveloped countries.

http://biweekly.isvoc.com/author/jake-maxwell-watts

Now Frankie Bishop "Former Bank of Thailand employee" (evidence?) is saying:

Quote

"I can confirm that Bitcoin is not illegal [in Thailand],"

So for him to change his mind from being uncertain to certain he must have talked to someone to confirm this? Who, when, where? Or should we only demand verifiable sources when the information could cause panic?

aigeezer

legendary

Activity: 1450

Merit: 1013

Cryptanalyst castrated by his government, 1952

I imagine this view will prevail, although it's still "he said, she said" at the moment.

Jumping ahead - I wonder how many of the media outlets that (falsely?) published the Thai BTC-ban story will retract their stories, apologize, and check their sources more carefully in future. I'm guessing, none of them.

If nothing else, this story should give us a reminder about the unreliability of contemporary media. I notice Tangible Cryptography have "blacklisted" customers from Thailand in their generally positive announcement today, presumably because they just can't take the chance that the original Thailand-ban story is true. Real people, real harm - presumably temporary. (But see below)

https://bitcointalksearch.org/topic/m.2848889

Hats off to Goat for pushing back early and vigorously when the original story broke.

I hope an official definitive answer comes very soon - meanwhile, this story is good news.

Edit: Tangible Cryptography have now removed the Thailand restriction, presumably waiting to see how the situation resolves:

https://bitcointalksearch.org/topic/m.2854534

BitGo

member

Activity: 83

Merit: 10

https://bitgo.com

https://btcglobal.net/blog/post/bitcoin-is-not-illegal-in-thailand

""I can confirm that Bitcoin is not illegal [in Thailand]," says BTCXpert and former Bank of Thailand employee Frankie Bishop. An official announcement on Bitcoin has yet to be made by the Bank of Thailand, and none of the Thai media channels report any such announcement.

The Bank of Thailand does not decide the legality of Bitcoin. Any regulations on crypto-currencies in Thailand will need to go through its formal process like Bitcoin does in other countries. None of the "Roles and Responsbilities" listed by the Bank of Thailand give it authority to determine the legal status of any currency."

Topic: 2013-08-1 Bitcoin is NOT illegal in Thailand (Read 1265 times)