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24.12 - 10:34
Central bank tells Thai banks not to offer crypto trading
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The Bank of Thailand has stated that it does not want commercial banks to be directly involved in the trading of crypto assets.
The edict came from central bank senior director Chayawadee Chai-Anant on Dec. 7 who cited risks associated with high price volatility.
The latest round of central bank suppression of digital assets comes at a time when commercial banks have been making investments in local cryptocurrency exchanges, according to a Bangkok Post report.
In early November, Thailand’s oldest bank Siam Commercial Bank (SCB) announced that it was acquiring a 51% stake in the country’s largest crypto exchange, Bitkub. In late August, the Zipmex crypto exchange raised $1.3 billion in funding from the country's fifth-largest lender, Bank of
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