Thailand's central bank introduces regulations on cryptocurrency in a circular issued earlier today
The circular issued by the governor, Veerathai Santiprabhob, says that all banks and financial institutions are prohibited from investing and trading cryptocurrencies. Institutions are also barred from:
- Offering cryptocurrency exchange
- Creating a platform for cryptocurrency trading
- Allowing use of credit cards in investing in cryptocurrencies
- Advising clients for investing or trading cryptocurrencies
This is a similar move as what the Qatar central bank did here last week.
The Bank of Thailand also say that they are "concerned about possible problems and fraud from cryptocurrency transactions" as "cryptocurrency may be used for money laundering or support for terrorism".
Not much of good news in the crypto space these days. But cryptocurrencies have been performing quite admirably on Friday and today as well. Here's how Bitcoin is shaping up today:
Price is currently trading back above the 200-day MA and is above the 61.8 retracement level as well. And that should give some encouragement to buyers as the hourly chart also shows that price has broken above the stubborn resistance levels of the 100 and 200-hour MAs:
