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Title: 2013-08-01 MemeBurn - Bitcoin and Thailand: What's really happening? Post by: kiko on August 03, 2013, 08:54:17 AM http://memeburn.com/2013/08/bitcoin-and-thailand-whats-really-happening/
Quote The ruling left those who follow the news wondering: can the bank make laws? Actually, the answer is yes and no. Bitcoin exchange services in Thailand weren’t actually declared “illegal” per se, but Bitcoin Co. Ltd., the company this news originally came from, has been operating in Thailand without a license, which is illegal. Any type of currency enchange service in Thailand needs to get a license from the Bank of Thailand, according to the Exchange Control Regulations in Thailand whether it’s “real” money or not. That’s why Bitcoin Co. Ltd. needed to be authorised to operate, and since it didn’t have that authorization, it was forced to shut down. Title: Re: 2013-08-01 MemeBurn - Bitcoin and Thailand: What's really happening? Post by: LiteCoinGuy on August 03, 2013, 12:53:03 PM that sound logic. when they have that license, they can go on.
Title: Re: 2013-08-01 MemeBurn - Bitcoin and Thailand: What's really happening? Post by: odolvlobo on August 03, 2013, 07:41:28 PM I think the Bank's logic is a little broken. It is a catch 22: the currency exchange must be authorized in order to operate, even though bitcoin is not a currency, but it can't be authorized because bitcoin is not currency.
I also think the writer is confused. Quote Therefore, since there are no applicable laws that can control or tax Bitcoins, they are de-facto illegal (for now). ... Using Bitcoin in any way within the Kingdom of Thailand is banned for now ... I doubt this is true. Is something illegal in Thailand because it has not been explicitly declared as legal? |