The Bank of Thailand, the Securities and Exchange Commission and the Ministry of Finance have gathered to discuss and publish guidelines regarding the use of digital assets as payment tools.

In a joint press release on Tuesday, Thailand’s top regulatory bodies said that it has become necessary to review and regulate digital assets as a means of payment for goods and services. The joint committee considered all of the possible risks and benefits and concluded that widespread use digital assets could be a threat to financial and economic stability.

1. Volatility riskDigital asset volatility can have a negative impact on both merchants and customers. A conversion fee can add additional burden.
2. IT riskCyber theft and data leakage can be a problem for consumers.
3. Compliance and RiskAnonymity could make digital assets a potential legal liability.