Bank of Thailand Asked its Banks Not to Trade Crypto

Bank of Thailand instructed national banks to prevent any kind of investment or trade involving cryptocurrency  
13 February 2018   91

According to the official circular, Bank of Thailand (BoT) asked the banks to ban transactions involving credit cards to buy cryptocurrencies. This rules will be implemented until new regulations are being formed.

Thailand’s Finance Minister stated that the government will not ban cryptocurrency trading. Within a month a regulatory framework will be released. BoT cannot regulate cryptocurrencies as it does not recognize such currencies as a legal tender. According to Finance Minister, the securities watchdog Thai Securities and Exchange Commission is the appropriate authority to oversee cryptocurrencies in Thailand.

However, there is no ban, the Finance Minister’s words mean that banks won’t be allowed to trade, but they would integrate the blockchain technology soon.

Such measures are not new. The US and the UK  also restricted the use of credit cards for the purchase of cryptocurrencies. Governments all over the world are taking measures to prevent the people from losing money.

SEC Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   121

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission