Thailand's central bank warns against using digital currencies for payments

The Bank of Thailand has issued a warning to crypto holders who use their digital assets as a medium of exchange, saying if these practices become widespread it may take strong regulatory measures.

In a Thursday statement, the central bank said anyone who engaged in the trade of digital assets for goods and services, as the sender or recipient, could face risks including money laundering, theft, and price volatility. The Bank of Thailand, or BOT, reiterated its position that cryptocurrencies like (BTC) and Ether (ETH) are not legal tender in the country and warned of consequences from regulators: