Regulators in Thailand have decided to limit the use of cryptocurrencies as a means of payment. The authorities consider the country’s current payment system efficient and insist cryptos would only bring risks for the financial system, economy, people and businesses. Thailand SEC Issues Regulations Limiting Use of Digital Assets for Payments Financial regulators in Thailand…
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A simple mistake led one crypto user to sell his precious rock NFT for 444 WEI instead of 444 ETH, a tenth of a penny rather than $1.2 million. It’s a hard rock life for one crypto user. A clumsy keystroke and the actions of a sniper bot caused a million-dollar mistake on March 10.…
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An AI trading bot that learns how to time the market and accumulate Bitcoin quickly learned that the best way is to simply ”hodl.” “Hodling” really is the way when it comes to accumulating Bitcoin (BTC). At least, that’s the conclusion made by an artificial intelligence (AI) trading bot coded up by a Portuguese software…
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Bank of Thailand’s officials say that using cryptocurrency as a means of payment is not illegal. However, they added that users “must be able to accept the risks,” including price fluctuation. Using Crypto to Pay for Goods and Services Is Not Illegal in Thailand Sakkapop Panyanukul, senior director at the Bank of Thailand (BOT)’s Monetary…
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The Bank of Thailand doesn’t want local banks or businesses using crypto, while the tourism ministry is still trying to attract crypto whales. The Bank of Thailand has stated that it does not want commercial banks to be directly involved in the trading of crypto assets. The edict came from central bank senior director Chayawadee…
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An arbitrage bot managed to turn 14 ETH to 218.5 ETH simply by spamming the Polygon network for 120 days. The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH)…
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The scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities to investigate Suex’s connections with financial companies…
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The Baht-pegged stablecoin produced by Terra has come under fire from Thai bankers. The Bank of Thailand has issued a stern warning against a privately issued stablecoin pegged to the national currency, the Thai Baht. According to a Bangkok Post report on March 18, the central bank has told citizens that Thai Baht Digital (THT)…
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