Many Countries have banned crypto Currency before and later they unbanned it. So Thailand will not be an exceptional. But well educated authorities or presidents will never banned Crypto Currency but will look for a way to sustain it to support the fiat economy grow fast. Because most of the youths are now using crypto currencies more than the fiat currencies. Therefore, any country that is banning crypto currency in his country does not love his youths and doesn't want the youths to grow financially. If Thailand does not stop the ban on Crypto Currency, the economy of the country will collapse Because the youths will travel to another Countries to do their transactions instead of doing it in their Countries. And one thing you have to know is that, no authority can stop the uses of crypto Currencies. Some Countries have tried to banned it but now for them. The more they banned it the more the youths used it. And I also believe that Thailand will end up like it counterparts by creating it's own E-Currency.
My prayer is that let BTC price should increase speedly
Topic: Thailand ban using crypto for payments (Read 648 times)
It is estimated that over 3.6 million people, 5.2% of Thailand total population currently own cryptocurrency. If Thailand government still allow people there to use crypto in trading and investment then just exchange to thai baht before using it to any transaction on their country, I think it doesn't have any negative impact on crypto because in my understanding Thailand will be banned cryptocurrency just as payment method.
Thailand is a big country which according to data is estimated to be more than 10 million active users or about 18% in thailand, of course the government sees crypto as a dangerous thing with good growth so that by being banned the government can suppress the number of users, but i hope being banned is not the end of cryptocurrencies in Thailand.
thailand will end this banning soon while they know how bigger this market potency. from tax it could contribute to their national income , maybe if they attract around 3 to 5% i am believe it give huge number. alot countries around the world start bitcoin legal tender due its potency , it could also create alot online job which is could drive their national income. 
Thailand is a big country which according to data is estimated to be more than 10 million active users or about 18% in thailand, of course the government sees crypto as a dangerous thing with good growth so that by being banned the government can suppress the number of users, but i hope being banned is not the end of cryptocurrencies in Thailand.
And how exactly are the authorities of the Thailand government going to restrict people from paying with crypto? This is something which seems more or less impossible to me. Even China with their outright bans cannot keep people from mining and using crypto, so what chance does Thailand think it has?
Perhaps Thailand is just trying to get the price down so they can fill their bags, eh?
Either way, I doubt this is going to have any kind of impact other than a short-lived PR stunt for financial regulators or something.
if anything, "bad" Bitcoin PR is still PR. So thanks, Thailand!
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Well said. History has taught us that it's not possible to ban BTC and other popular cryptocurrencies completely which is why many world governments gave up and decided to stick to regulating them instead which is the next best alternative for them.
Thailand will do the same in the near future in my opinion. Until then, their citizens can rely on P2P platforms like LocalBitcoins etc.
If there is a collective effort by the governments from US, Europe and Asia then they could restrict the market by controlling or restricting the exchanges in the country. Then their main line of target will be the miners, mostly located in large mining farms and how hard it is to identify these miners with large mining farms and if they want they can really stop them. So hypothetical it is possible to ban the usage even with regulation what happens if they impose huge tax on every transaction like India did recently. Well said. History has taught us that it's not possible to ban BTC and other popular cryptocurrencies completely which is why many world governments gave up and decided to stick to regulating them instead which is the next best alternative for them.
Thailand will do the same in the near future in my opinion. Until then, their citizens can rely on P2P platforms like LocalBitcoins etc.
I believe Thailand will launch their own CBDC, the Thai government obviously doesn't want their citizens to have absolute freedom to transact.
This is exactly what happened with the Nigerians government, they did the same thing by placing ban on crypto just to reveal the launch of their E-Naira CBDC, i think you're right, government are contending with cryptocurrency but they lack the understanding that CBDC is totally different from cryptocurrency.
It is gross ignorance on the part of any government to want to ban cryptocurrency. While government that are wise are looking for ways to gain from cryptocurrency by collecting tax, some government on the other hand are hell bent on sending their civilization back to Stone age. A typical example is Nigeria you just mentioned.
Many countries still reject cryptocurrencies, but in fact the rejection is not permanent which they do, because of their inability to control and provide financial security to their citizens so they issue decrees prohibiting the use of cryptocurrencies and if they continue to carry out financial risks due to property losses and no guarantee and no protection from the state.
I believe Thailand will launch their own CBDC, the Thai government obviously doesn't want their citizens to have absolute freedom to transact.
This is exactly what happened with the Nigerians government, they did the same thing by placing ban on crypto just to reveal the launch of their E-Naira CBDC, i think you're right, government are contending with cryptocurrency but they lack the understanding that CBDC is totally different from cryptocurrency.
It is gross ignorance on the part of any government to want to ban cryptocurrency. While government that are wise are looking for ways to gain from cryptocurrency by collecting tax, some government on the other hand are hell bent on sending their civilization back to Stone age. A typical example is Nigeria you just mentioned.
Haters will be happy to hear the news, but I believe FUDs or the fact that many countries banned crypto for payments will not have a big impact or kill crypto growth, as happened with many crypto banned countries like China, but user growth in China continues to improve and this is what makes me not worried about being massively banned in many countries.
The more countries that banned bitcoin then this will create new users, when banned it makes people curious and when trying to get something different let alone knowing that the global cryptocurrencies community is very large then I'm sure he will invite friends or family to get into crypto.
That's risky if they will continue accessing something that is already banned. The news about banning can make someone curious but what about during the legalization of crypto on that country? Or maybe some are not informed by the time that happened but it would be better to stay away from cryptos if it's already banned. They should only wait once crypto is unbanned again. That is still possible because if we look at India, Bangladesh, china and others, they already went on this phase where they ban and unban cryptos.There is no need to rush of getting involved in crypto because cryptos are still young and there is more pumps to come in the future.
You can see this everywhere, if you see something banned to be talked about or shown, there will be even more of it shared, unless it is a bad thing like war deaths and so forth. All in all I believe that if Thailand bans crypto, it may result back with people being even more interested in it because they will wonder why it was banned to begin with.
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what is regulated by the Thai government is not much different from what the government of our country does, it is not allowing bitcoin and other cryptocurrencies as a means of payment but allowing bitcoin and other crypto assets to be used as investments such as gold or other commodities. 
the government is afraid that all payment instruments will switch to crypto and the role of fiat becomes a minority. I think this is a good thing to minimize inflation caused by fiat printing which is too high, whereas if crypto becomes a legal tool for payment transactions for goods and services, the government will indirectly benefit of taxes applied in crypto transactions
Government could really still put up some limits even though they would be deciding to adopt crypto into their vicinity yet people doesnt really have any place to run whenever they do decided to make out some conversionsfrom crypto to fiat and its true that they could really able to generate even more taxes if ever they would really be adapting into it and imposing some percentage tax into those platforms involved.
If they had decided to ban it then there's nothing we could do but this wont be final for sure since decisions would really be having the possibility of changing in the future.
the government is afraid that all payment instruments will switch to crypto and the role of fiat becomes a minority. I think this is a good thing to minimize inflation caused by fiat printing which is too high, whereas if crypto becomes a legal tool for payment transactions for goods and services, the government will indirectly benefit of taxes applied in crypto transactions
I'm not surprised by the news because they are planning to build their own CBDC which some countries are doing. Bitcoin as a payment system may become a threat to their CBDC, so in order for people to patronize their own fiat centralize currency, they need to barred the popularity of bitcoin as a payment system by banning it.
Governments are either incredibly shortsighted or they actually think their citizens are dumb, after all the huge inflation levels that we are seeing everywhere are their fault and now people are suffering the consequences of their mistakes, and their solution is to create a digital currency that is many times worse than the current form of money they implemented, people will not adopt their coins because they know what they are up to and they will decide to use bitcoin even if they ban it, as people will probably prefer to take their chances rather than adopt those shitcoins made by the governments.Thailand, china, and many other nations that ban crypto sees this as a threat and their governments are afraid that if they let people use it, it will hurt their fiat even more. Reality is that you are bringing more and more money to that nation if you let people earn from crypto, but they can't see that.
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.
https://ambcrypto.com/thailand-one-of-asias-biggest-adopters-now-barred-from-using-crypto-as-payment/?utm_source=thecryptoapp
some country band and again running it's a sample system of this sector so its not very important subject for currency sector. 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.
https://ambcrypto.com/thailand-one-of-asias-biggest-adopters-now-barred-from-using-crypto-as-payment/?utm_source=thecryptoapp
The more countries that banned bitcoin then this will create new users, when banned it makes people curious and when trying to get something different let alone knowing that the global cryptocurrencies community is very large then I'm sure he will invite friends or family to get into crypto.
That's risky if they will continue accessing something that is already banned. The news about banning can make someone curious but what about during the legalization of crypto on that country? Or maybe some are not informed by the time that happened but it would be better to stay away from cryptos if it's already banned. They should only wait once crypto is unbanned again. That is still possible because if we look at India, Bangladesh, china and others, they already went on this phase where they ban and unban cryptos.There is no need to rush of getting involved in crypto because cryptos are still young and there is more pumps to come in the future.
The growing number of users made many countries including Thailand banned cryptocurrencies for payments, but this never stopped users because I believe most crypto users use it for trading and long term investment so the transaction volume used for payments is very small because users understand that fees very expensive transaction compared to fiat.
it's the same in my country where there was a ban on the use of crypto for payment instruments where there were many patrols in shopping and tourism places, and after that it was orderly to do according to the rules, but this did not make crypto users less, in fact more and more because crypto is a very profitable investment and we can become rich in an instant, if the pump happens and we have been saving for a long time 
The growing number of users made many countries including Thailand banned cryptocurrencies for payments, but this never stopped users because I believe most crypto users use it for trading and long term investment so the transaction volume used for payments is very small because users understand that fees very expensive transaction compared to fiat.
Thailand is a big market with user growth of more than 15% per year, of course the government is worried that the use of crypto will make people not want to use fiat so they get banned from crypto, but I'm sure this will have no impact on users in thailand because crypto is a unique thing and can't be limited just because it's banned.
Well said. History has taught us that it's not possible to ban BTC and other popular cryptocurrencies completely which is why many world governments gave up and decided to stick to regulating them instead which is the next best alternative for them.Thailand will do the same in the near future in my opinion. Until then, their citizens can rely on P2P platforms like LocalBitcoins etc.
Thailand is a big market with user growth of more than 15% per year, of course the government is worried that the use of crypto will make people not want to use fiat so they get banned from crypto, but I'm sure this will have no impact on users in thailand because crypto is a unique thing and can't be limited just because it's banned.
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