Digital assets stare at uncertain future in Thailand as regulators clip their wings

13 Sept 13:50 Key points summarised by AI

Thailand's Bank of Thailand (BOT) and SEC have imposed new regulations, effective April 1, explicitly prohibiting the use of digital assets, including cryptocurrencies, as a means of payment for goods and services.
The rules also restrict digital asset businesses from creating payment infrastructure and cap banks' investment in digital assets at 3% of their capital.
These actions are driven by regulators' concerns over investor protection and financial stability, citing the high and rapidly increasing public enthusiasm for digital asset investments.
The digital asset community has shown mixed reactions, with some expressing frustration and questioning the restrictions, while the impact on major industry deals and future innovations like Metaverse transactions remains uncertain.

Flooding persists in Bangkok and 22 provinces

Today 16:00 Key points summarised by AI

Persistent flooding continues across Bangkok and 22 Thai provinces, though water levels are gradually receding in many affected areas.
Over 604,000 families, impacting approximately 1.83 million people, are still grappling with the widespread flood conditions.
The national flood death toll has reached 80 since mid-September, with fatalities reported across various provinces.
Major regions like Pathum Thani, Ayutthaya, and Bangkok report significant numbers of affected households, with hundreds of thousands still in trouble.