bitcoin.co.th trading suspended

[dave111223]

https://bitcoin.co.th/trading-suspended-due-to-bank-of-thailand-advisement/

[solex]

And here guys and gals is the whole difference between the First World and Third World, between a free society and controlled society:

"At the conclusion of the meeting senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand..."

In a free country you do what you like as long as it is not illegal. In a controlled un-free country you can only do what is legally allowed.

As a side note, too bad for Thailand, missing the Bitcoin and cryptocurrency train. They will regret it.

[zeroday]

Holy cow!
And violators will be beheaded ?

[solex]

Holy cow!
And violators will be beheaded ?

The lucky ones. The others get stomped on by elephants.
 

[Meni Rosenfeld]

Is this for real? This is huge (in the negative sense) news if true.
Is the source credible?

[zeroday]

Negative sense for Thailand, not bitcoin...

[Chang Hum]

Shit do you know if you can still make a transfer to your tba off an exchange?

[zeroday]

but as I understand, it's not a law, but just conclusion of a bunch of idiots at the meeting.

[dave111223]

but as I understand, it's not a law, but just conclusion of bunch of idiots at the meeting.

When a senior official at a central bank tells you point-blank, "buying or selling bitcoins is illegal", unless you have a seriously large legal fund and willing to fight all the way to the constitutional courts if necessary, you take it seriously.

[smscotten]

I'll have to remember to only spend Litecoin on my next trip to Thailand.

[dave111223]

I'll have to remember to only spend Litecoin on my next trip to Thailand.

Alt-coins were discussed at the meeting, same rules apply.

[vokain]

this is like saying exchanging anything not currency for goods and services is illegal...scary

[dave111223]

On the plus side you can still mine...and send the bitcoins as gifts (within Thailand)

[zeroday]

When a senior official at a central bank tells you point-blank, "buying or selling bitcoins is illegal", unless you have a seriously large legal fund and willing to fight all the way to the constitutional courts if necessary, you take it seriously.

Ok, may be I'm not aware about legal procedures in Thailand.
it seems like sharia court, where judge makes decision according not to law but by their own opinion.

[Birdy]

• Receiving Bitcoins from anyone located outside of Thailand

So we can make anyone in Thailand do illegal things by sending them an private key/brainwallet with Bitcoins?
Just knowing it makes you the (or one of the) owners of the Bitcoins.

E.g. Brainwallet-pw with some miliBitcoins: pinkelephant

[N12]

• Receiving Bitcoins from anyone located outside of Thailand

So we can makle anyone in Thailand do illegal things by sending them an private key/brainwallet with Bitcoins?
Just knowing it makes you the (or one of the) owners of the Bitcoins.

E.g. Brainwallet-pw with some miliBitcoins: pinkelephant

Poor Goat.

[becoin]

And here guys and gals is the whole difference between the First World and Third World, between a free society and controlled society:

"At the conclusion of the meeting senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand..."

In a free country you do what you like as long as it is not illegal. In a controlled un-free country you can only do what is legally allowed.

As a side note, too bad for Thailand, missing the Bitcoin and cryptocurrency train. They will regret it.

Are you kidding?

The only difference between controlled un-free country and controlled free country is that in the controlled free country you're not allowed without the government officially telling you're not allowed.

[dave111223]

Ok, may be I'm not aware about legal procedures in Thailand.
it seems like sharia court, where judge makes decision according not to law but by their own opinion.

Obviously for there to be any penalty it would have to go through the courts.  ie Civil and/or Criminal charges would have to be brought and trials, appeals etc...

Any Guinea pig volunteers?

[smscotten]

On the plus side you can still mine...and send the bitcoins as gifts (within Thailand)

Which, I take it, would also mean only mining in pools within Thailand, otherwise the bitcoin you receive would be from outside Thailand and therefore illegal importation.

[vokain]

 i like how they declare it outright illegal versus saying the money laundering via bitcoin is illegal