31 Jul '13, 2pm

Bank of Thailand Outlaws Bitcoin, Internet Laughs

Bank of Thailand Outlaws Bitcoin, Internet Laughs

Eric Markowitz | Inc.com staffJul 31, 2013 Bank of Thailand Outlaws Bitcoin, Internet Laughs Thailand's central bank decided not to regulate Bitcoin, but that won't stop people from using the currency. Jason Benjamin / Flickr.com Tweet clipped Connect with Evernote: Please Login to Connect Your Account with Evernote Yesterday, a Thai-based Bitcoin exchange approached the Bank of Thailand seeking the bank's approval to regulate Bitcoin as an accepted currency. It did not work out well for them. The Bank advised the exchange company that: Due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand: Buying Bitcoins Selling Bitcoins Buying any goods or services in exchange for Bitcoins Selling any goods or services for Bitcoins Sending Bitcoins to anyone located...

Full article: http://www.inc.com/eric-markowitz/bank-of-thailand-outlaw...

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