According to finance permanent secretary Somchai Sujjapongse it is not acceptable to allow Bitcoin transactions without warnings and directions from the regulators. He believes that the Bank Of Thailand and Securities and Exchange Commision should issue warnings that cryptocurrencies are not regulated.
In his opinion, the government can benefit from using blockchain technology and should not ban it, that is why the working panel should work rapidly over the next month in order to make a decision of how to regulate crypto.
At the moment the most liberal countries in Southeast Asia which lean towards crypto trading are Japan and Singapore. India is the opposite. Cryptocurrencies transactions are not allowed for illegal activities there and the government will take measures to eliminate such activities.
The only cryptocurrency exchange in Thailand is BX Thailand. It lists 11 cryptocurrencies for trade and has the daily trade volume of around $16 million.