Topic: bitcoin.co.th trading suspended (Read 21787 times)

This thread has clearly run it's course and now regressing to discussion of Buddhism, washing machines and my personal life.

I will reopen the thread if any new announcements are posted.  As previously mentioned if you need more information on the topic PM me.

I use a washing machine like most normal people

I think you maybe havent been to Thailand, they have money trees outside the temples, everything is for sale in Thailand

The Thais I know do not care about Bitcoin. If Bitcoin in Thailand should be a topic some day, then the Thais will not accept a ban. But as long as Thai People do not care about Bitcoin, I would be careful as ฝรั่ง. No one will help you. Most buddhists do not care about money. Whether it is physical or virtual. Most ฝรั่ง only know the tourist centers. But normal Thais are very different. They will not even wash your underwear. Money means little to them. Bitcoin hardly leads to enlightenment from the perspective of a Thai.

Becuase the central bank never said Bitcoin is illegal. Even if they did, it is their opinion, not the law.

The fact that one central bank announced that Bitcoin is illegal doesn't damage image of the system in any way. Quite on the contrary. This fact just confirms that Bitcoin is exactly the instrument that it was meant to be when created 5 years ago. It can successfully compete with central bank fiat money.

Anti-bitcoin powers would use any chance to damage image of the system. I'm pretty sure that they gave the go-ahead even to respected media to wind unverified information. Easy for them because the scapegoat is there, ready and hard-nosily keeps his original posting.

It is absolutely fine to write that. But be careful, don't write "Bitcoin is illegal in this country". Because that is what they did'n say.

"Wishful thinking" is the term for your thoughts.

I still don't understand why is all that drama that one central bank said Bitcoin is illegal?

So he bought a wife and is using her name for legal purposes. Still a pseudonym.

Was that to me?


I still think that there is a serious possibility that the official saying this really meant: "Buying and selling bitcoins without a money changer license is illegal and since you don't have one, you better stop doing it"

Is there some particular reason I am not allowed to think that and I am not allowed to write about it? A more BTC positive idea than most of the other posts that to me seem very negative towards the future of BTC in Thailand?

Tachpicha is a ladies name in Thailand the fact it has Barnes at the end of it's likely to be his wife rather than a pseudonym!

Or you could read the thread.

I believe there is the possibility OP just got caught in the cracks between different departments and different laws governing them. It is possible that there is both a broad and a narrow interpretation of what money changer business is. To some department running an BTC exchange looks like a money changer business and therefore it needs a license. On the other hand the department that issues these licences they have their own narrow definition of what a good money changer business looks like and to whom they are happy to issue licenses. This BTC exchange might just look too odd to them so that they are not ready to jump issuing the license immediately just on this very week when you first asked about it.

If some company that already runs a Baht-USD-EUR money changer business and has got a license based on that decides to add BTC to their portfolio, it might be that no official says anything because everything looks totally fine to everybody.

OP just has to figure out what details are needed so that you fulfil the criterias that the government have written down and have been using for years to judge whether a new business qualifies for the licenses. Changing the government policies and criterias is not likely to happen overnight. Spreading rumours that BTC is illegal in Thailand, it might make it more like an uphill battle in this quest to get a license.

If it is your legal opinion that those laws don't apply to Bitcoin, then continue to operate as normal.  However it's important to know the possible ramifications (as previously mentioned 10 years in prison for operating as as an unlicensed "money changer").  I'm sure similar penalties apply for selling unlicensed financial instruments, or unlicensed epayment transmitter; whichever way they want to define BTC on the day.

Of course I'm not sure of your situation.  If you are just dealing on the down low (localbitcoins) cash in suitcase sort of thing then the chance of you having legal troubles are probably nill.

If you are a static target then the risk is greatly increased.

Or if they trace back that a drug dealer, or bomber in the south used your service to move money to buy bombs or something then it's squeaky bum time.

Yes I can point to the original link, which I have already said is accurate.


This is opposite from the truth and where if your reference for them saying it is "not illegal" (or "legal") either will do


Here are some references you may be interested in:
Law: look at #4 http://www.kodmhai.com/m4/m4-2/h82/m1-9.html กฏควบ คุมการแลกเปลียน มาตรา 4
Law: look at #9 http://www.baanjomyut.com/library/law/82.html พ ร บ เงินตรา มาตรา 9

Yes I think most of Bitcoin activities are illegal.  With the exception of a few that were mentioned earlier in the topic, such as mining, gifting within the country etc..

Do I want them to be illegal? No of course not

Do I think you could challenge the legality of bitcoins through the court if charges were brought?  Yes, but if you lose there are criminal penalties associated with running financial services (such as money changer) without a license (ie 10 years in prison)

Yes I still think the original website statement was accurate, that BoT offered advice that an extensive list of bitcoin activities were/are illegal.

Let me guess. The Boca Raton adress is fake. How wiley.

greyhawk your post contains so many inaccuracies it is comical.