01 Aug '13, 3am

Is Bitcoin Really Illegal in Thailand?

On July 30th, there was news that Thailand’s national bank had ruled Bitcoin illegal . Of course, this came in as a shock to many people who use the virtual currency, especially those who are not Thai. The ruling left those who follow the news wondering: can the bank make laws? Actually, the answer is yes and no. Bitcoin exchange services in Thailand weren’t actually declared “illegal” per se, but Bitcoin Co. Ltd., the company this news originally came from, has been operating in Thailand without a license, which is illegal. Any type of currency enchange service in Thailand needs to get a license from the Bank of Thailand, according to the Exchange Control Regulations in Thailand whether it’s “real” money or not. That’s why Bitcoin Co. Ltd. needed to be authorized to operate, and since it didn’t have that authorization, it was forced to shut down. Prasan Trairatworakun, Ba...

Full article: http://www.techinasia.com/bitcoin-illegal-thailand/

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Is Bitcoin Really Illegal in Thailand?

Is Bitcoin Really Illegal in Thailand?

mashable.com 01 Aug '13, 4pm

Earlier this week, Thailand's national bank ruled Bitcoin illegal . The news came as a shock to many who use the virtual c...

Is Bitcoin Really Illegal in Thailand?

networkedblogs.com 01 Aug '13, 4pm

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