The central bank of Thailand reportedly urged local financial institutions to stay away from cryptocurrencies citing risks coming from their enhanced volatility. It added that the broad employment of bitcoin and the altcoins could also impact the Bank of Thailand’s ability to monitor the national economy.
BoT Against Crypto Trading
According to a coverage by The Bangkok Post, the Bank of Thailand (BoT) does not want local banks to be directly involved in digital asset trading. Chayawadee Chai-Anant – Senior Director at the institution – opined that dealing with bitcoin and the alternative coins poses significant risks to the public since the assets are well-known for their price fluctuations:
“We don’t want banks to be directly involved in digital asset trading because banks are responsible for customer deposits and the public, and there is a risk.”
While the volatility in the space is indeed present, it is also worth noting that cryptocurrencies are relatively new assets.
We współpracy z: https://cryptopotato.com/bank-of-thailand-does-not-want-local-banks-to-get-involved-in-crypto-report/
