Ms. Sirithida Phanomwan Na Ayudhya, Assistant Governor, Payment Systems Policy and Financial Technology Group The Bank of Thailand (BOT) revealed that the BOT has continuously monitored the use of digital assets in various forms. and saw an invitation to use various types of digital assets such as Bitcoin Ether as a medium for payment of goods and services more in the past, which the Bank of Thailand has previously emphasized on the status of digital assets that it does not hold It is a legal currency. Therefore, the use of digital assets in such forms Therefore, it is a barter trade between digital assets and goods and services in which the giver and receiver agree to accept the risks involved.
in using digital assets as a medium for payment of goods and services Users or recipients of digital assets There may be a risk of volatility in the value of digital assets. There is also the risk of losing value in the event of cyber theft. And being used as a tool for money laundering, the BOT still does not support the use of digital assets as a payment medium for goods and services. and see that some types of digital assets are investment assets that investors need to understand the risks This view is consistent with many international organizations and regulators, such as the International Monetary Fund (IMF) and Bank for International Settlements (BIS), the UK, the European Union, South Korea and Malaysia.
However, the BOT will continue to monitor the development of digital assets as a payment medium for goods and services. If this occurs widely, the BOT will coordinate with the Securities and Exchange Commission (SEC) and related agencies. to consider and prevent a wide-scale risk that affects the public, the economic system and the stability of the country’s financial system
The Bank of Thailand recognizes the importance of financial innovation development and is open to further application to enhance the efficiency of the payment system to support economic activities. and will ensure that people get the full benefits from innovation development. Currently, the BOT is studying and developing a central bank digital currency (CBDC) as well as having a policy to supervise services. Financial services related to stablecoin digital assets backed by Thai baht and other types of stablecoins to provide more reliable digital payment channels for goods and services to the public. Along with maintaining the stability of the country’s financial system, the Bank of Thailand will listen to the opinions of the public and related parties. and notify the progress of such development periodically
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