29 Jul '13, 3pm

Thai central bank rules Bitcoin to be illegal

Thai central bank rules Bitcoin to be illegal

Senior members of the Foreign Exchange Administration and Policy Department concluded that because there were no existing laws that apply to Bitcoin and the fact that the cryptocurrency "straddles multiple financial facets", a wide range of Bitcoin activities should be illegal. These include buying and selling bitcoins, selling or buying any goods or services in exchange for bitcoins, sending bitcoins abroad or receiving them from anyone located outside of Thailand. The ruling has led Bitcoin Co. Ltd to cease operations until Thai laws are updated.

Full article: http://www.wired.co.uk/news/archive/2013-07/29/bitcoin-il...

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Bitcoin ruled illegal in Thailand

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