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Thailand to Set Cap on Investment by Banks in Digital Assets

March 23, 2022, 10:42 AM

Thailand’s central bank proposes to cap investment by commercial banks in digital-assets business under 3% of their capital after the nation banned the use of cryptocurrencies as means of payments.

  • Investment ceiling may help limit new risks that may affect confidence in commercial banks and prompt them to allocate resources prudently, Bank of Thailand Assistant Governor Roong Mallikamas says in statement Wednesday
  • NOTE: Thailand Bans Use of Cryptocurrencies as a Method of Payment (1)
  • The cap may be reconsidered later if banks can prove they can manage digital-assets business to meet BOT’s standards
  • BOT to scrap 3% of group capital ...