The Central Bank of Thailand’s Position on Bitcoin (Preliminary Version)

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The Central Bank of Thailand’s Position on Bitcoin (Preliminary Version)

12 July 2021
One Asia Lawyers Thailand Office

 On 9 June 2021, El Salvador’s Parliament passed the Bitcoin Law, and Bitcoin may become legal
tender in the country starting 7 September 2021.
 In this regard, the Thai government stated in1 Press Release No. 49/2021 on 8 July 2021, that
while the Central Bank of Thailand recognizes the demand for digital asset payments, Bitcoin will
not continue to be recognized as legal tender in Thailand, and transactions paid in Bitcoin will be
considered barter and investors will need to understand the risks involved. The Bank of Thailand
has stated that bitcoin will not continue to be recognized as legal tender in Thailand and that
investors need to understand the risks of holding bitcoin.

1 https://www.bot.or.th/English/PressandSpeeches/Press/2021/Pages/n4964.aspx