Although its fallen short of curtailing the kingdom’s trade in virtual currency, the Bank of Thailand has issued a warning to remind the public bitcoins aren’t legal tender.
With confidence in Bitcoins suffering after the failure of a large Japanese exchange, BoT further mongered some scare in a statement reminding users there is no legal protections against fraud.
“Tracking the virtual money’s transfer could be difficult in cases where evidence is needed for any legal action. It is different from real money transfers through commercial banks or regulated money transfer service providers that have track records,” according to the statement.
Meanwhile the digital currency continues to take root with consumers. Last month a Pattaya beer garden began accepting Bitcoins for payment.
Photo: Antana
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