Former Thai Central Bank Director Predicts Crypto Bubble Emerging in March
A former Bank of Thailand director has warned about an imminent crypto crash. “A cryptocurrency bubble will emerge at the end of March when liquidity in the financial market drops,” he reportedly predicted. Former Central Bank Director Warns Crypto Market Will Soon Crash Former Bank of Thailand (BOT) Director Anusorn Thammajai reportedly warned that the cryptocurrency market will crash in a couple of months, the Nation reported Sunday. The ex-central bank director cautioned: A cryptocurrency bubble will emerge at the end of March when liquidity in the....
Related News
NFTs are all the rage at the moment. At the same time, some, including Mike Winklemann, AKA Beeple, have described the situation as a bubble. “I absolutely think it’s a bubble, to be quite honest. I go back to the analogy of the beginning of the internet. There was a bubble. And the bubble burst.” […]
The Baht-pegged stablecoin produced by Terra has come under fire from Thai bankers. The Bank of Thailand has issued a stern warning against a privately issued stablecoin pegged to the national currency, the Thai Baht.According to a Bangkok Post report on March 18, the central bank has told citizens that Thai Baht Digital (THT) has no legal assurances or protection and that users could be at risk of cyber theft or money laundering Citing a sixty-year-old law, the central bank's assistant governor of the legal group, Pruettipong Srimachand, stated that any activities involving the stablecoin....
Thailand Central Bank has planned to overhaul its crypto laws to grant more powers to the central bank. Reports have suggested that the new amendments to the regulation will include Central Bank to be a part of it. Finance Minister Arkhom Termpittayapaisith mentioned in an interview about the planned amendments. Additionally, the government will also […]
Thailand’s central bank has declared a stablecoin pegged to the Thai Baht illegal, citing violation of the country’s currency law. The Bank of Thailand (BOT) is currently working on a regulatory framework for stablecoins. Thailand Bans Baht-Pegged Stablecoin The Bank of Thailand, the country’s central bank, issued a press release Wednesday declaring a stablecoin called the Thai Baht Digital (THT) illegal. “It has come to the BOT’s attention that a new stablecoin, THT, has been created abroad on the Terra platform. One unit of THT is denominated in and valued....
Thailand is reportedly preparing to amend its law on digital assets to tighten the oversight of the crypto sector and empower the Thai central bank to oversee the sector. “Right now, the central bank has no room to enter into the regulatory framework except for notifying that cryptos are not a legal means of payment for goods and services,” said the Thai finance minister. Thai Central Bank Will Help Regulate Crypto Industry Thailand is reportedly planning to amend its law on digital assets to tighten the oversight of the crypto sector, particularly trading platforms. Thai....