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SEC Conducts Public Hearing on the Guideline for Using Digital Assets as Means of Payment for Goods and Services.
The Securities and Exchange Commission has conducted a public hearing on the guidelines for prohibiting licensed digital asset operators from offering services in connection with the use of digital assets for purposes other than investment, such as means of payment for goods and services. The guidelines will apply to all licensed digital asset operators (digital asset exchanges, brokers, dealers, fund managers, and advisers), on transactions involving both types of digital assets (cryptocurrency and digital token). The principle of the guidelines is that the licensed digital asset operators shall not promote or support the use of digital assets as means of payment, which includes the following actions
- shall not solicit or indicate in any way that implies licensed digital asset operators are supporting payment in digital assets for goods and services.
- shall not provide any system or tools that would assist merchants in accepting digital assets as payment or customer in using digital assets to pay for goods or services, such as providing a QR code for customers to scan in order to use digital assets as payment for goods or services or providing a system that can show the price of digital assets in cryptocurrency, including providing a system for merchants to exchange digital assets into Thai Baht after receiving payment from customer.
- shall not open e-wallets for merchants in order to accept digital assets as payment for goods and services.
- in case where the customer receives Thai Baht as a result of selling digital assets, shall transfer such Thai Baht to such customer’s own account.
- shall not provide any services relating to the transfer of digital assets between customers for the purpose of accepting digital assets as payment for goods and services.
- shall not provide any services relating to the transfer of Thai Baht from customers’ account opened with licensed digital asset operators to any third-party account for the purpose of accepting digital assets as payment for goods and services.
- shall not act in any way that promotes or supports the use of digital assets as means of payment.