Cryptocurrency Trading for Some Digital Coins Banned in Thailand, Including

[dhemasm]

I never though my Neighbor Country will banned some cryptocurrency especially Dogecoin, I though Thai Government was neutral or see crypto as positive things since i see some project was origin from there but looks i was wrong and basically that was good step, I'm not hating dogecoin but the point was good since it's didn't have any clear Objective beside becoming "Meme" that was good prevention to protect their local trader but For NFT i never expect it since it's basically an good concept.

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[masterrex]

Thailand has become the latest country in Asia, after China, to restrict trading in the highly speculative cryptocurrencies and the non-fungible tokens (NFTs).
 The Thai Securities and Exchange Commission (SEC) issued new regulations that ban certain types of digital coins, including meme currencies like Dogecoin.
 It said the ban is aimed at protecting traders from tokens that have "no clear objective or substance" and whose prices are influenced by social media trends and online influencers. The ban also includes “fan tokens” that are riding on the popularity of the celebrities they are influenced by.

I think it's not a total banned issue, and if the ban is intended for all cryptocurrencies I guess only the Thai users will be affected and it means nothing to the entire crypto industry. I can't blame their regulatory authorities, in fact, they were right in some points meme coins have no real use cases that's why it is useless and risky for the Thai investors and that is the responsibility of their regulatory bodies in order to protect its people from losing money. 

[Vishnu.Reang]

I don't have a good opinion about Dogecoin or the NFT industry. But at the same time, I don't support these bans and other restrictions. People should be free to spend the money the way they want. Why the government want to poke it's nose into sectors that are beyond their control and understanding? Even if someone in Thailand purchase Dogecoin from a DEX site or a P2P platform, what are they going to do about it? My advice to the Thai authorities is to concentrate on more serious issues, rather than relegating themselves to a laughing stock in front of the world.

[Ararbermas]

Thailand has become the latest country in Asia, after China, to restrict trading in the highly speculative cryptocurrencies and the non-fungible tokens (NFTs).
 The Thai Securities and Exchange Commission (SEC) issued new regulations that ban certain types of digital coins, including meme currencies like Dogecoin.
 It said the ban is aimed at protecting traders from tokens that have "no clear objective or substance" and whose prices are influenced by social media trends and online influencers. The ban also includes “fan tokens” that are riding on the popularity of the celebrities they are influenced by.

well it's seems a good decision for the safety of every traders within the country. Indeed those meme coin that for hype only are not trustworthy so perhaps that's a good steps to remove those scam project . But for sure there will be some traders that will be against in it in my opinion. Especially those hard-headed who still want to ride just to gain massive return even it's not reliable. Actually its not surprising when it comes making money and because of the greediness..lol at least government warn them already..

[Fesatmas]

What’s the whole content of this regulation? This may cause panic if the information is limited.
Banning cryptocurrency is not a good idea, I hope this is not final since their local wallet is also available in my country and I hope its not affected. They didn’t ban bitcoin? This is still a good new and may the Thailand government is just protecting their people from a possible hype and fud.

The Thai government needs to create a governance structure in the investment sector that really has an interest in crypto, with this insight at least the Thai government can reconsider that its policies are not very good to be enforced. Considering that in the future, crypto, especially Bitcoin, can provide a solution for the inflation value of its paper money.

[the ghabbar]

Thailand has become the latest country in Asia, after China, to restrict trading in the highly speculative cryptocurrencies and the non-fungible tokens (NFTs).
 The Thai Securities and Exchange Commission (SEC) issued new regulations that ban certain types of digital coins, including meme currencies like Dogecoin.
 It said the ban is aimed at protecting traders from tokens that have "no clear objective or substance" and whose prices are influenced by social media trends and online influencers. The ban also includes “fan tokens” that are riding on the popularity of the celebrities they are influenced by.

So far only two countries have started to restrict cryptocurrency trading, this is due to the impact of the previous ban, but so far the ban has not had a major impact on crypto itself, although the conditions of this ban affect several other countries.

If the reason for the ban is to protect fiat from the influence of crypto, I think the ban is completely irrelevant, each country has its own rules for fiat, in carrying out its functions and uses, so far I think the big impact has not been seen at all.