MERU Estate — Blog

Cryptocurrency ban in Thailand

Experts
Lawyer Alexandra Agapitova's Comments.

On April 1, 2022, Thailand implemented a ban on using cryptocurrency as a means of payment for goods and services. Previously, companies could open legal cryptocurrency wallets and accept digital currency as payment legally. However, this is no longer possible.

〽️ Regarding cryptocurrency payment processes, currently, developers can only accept cryptocurrency into a personal wallet, such as the director's, and then convert the funds to cash in Thai Baht.

At the same time, the cryptocurrency-receiving wallet is still specified in the developer's contract to confirm the security of your funds.

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