Thailand: Published joint press release on digital asset regulation

The Central Bank, Securities and Exchange Commission, and Ministry of Finance or Thailand have published a joint press release on the benefits and risks of digital assets. In particular, the statement sustains the necessity of regulating the use of digital assets as means of payment, in order to prevent negative impacts on Thailand's financial stability and economic system.The main recognised risks are price volatility, cybercrimes, data breaches and money laundering. For these reasons, the statement claims that regulators will consider the implementation of a legal framework to limit the adoption of digital assets as a means of payment. Moreover, some regulatory guidelines could be issued for certain digital assets that support the financial system and do not pose relevant risks.