Thai Central Bank Defends Cryptocurrencies

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In the high-profile Thai crypto fraud case involving an actor, Thailand’s central bank has clarified that the fraud is not related to cryptocurrency trading, but a general misuse of money. Thailand has recently legalized seven cryptocurrencies, authorized seven crypto firms, and the Bank of Thailand has green-lighted commercial banks’ subsidiaries for crypto activities. Bank of Thailand’s Clarification Mr. Veerathai Santiprabhob. The current high-profile fraud case involving over 5,564 BTC has received much attention in Thai media. It involves a well-known soap actor and model, Jiratpisit Jaravijit, also known as “Boom”. The Thai News Agency reported on August 20 that the Bank of Thailand (BOT) Governor, Mr. Veerathai Santiprabhob, has clarified that this fraud case is not about crypto trading. He pointed out that, as far as he knows, the scheme was not dependant on using cryptocurrencies. He emphasized that in this case: The money is used for the wrong purpose.