Thailand Government Declares Bitcoin Illegal 185
hypnosec writes that the government of Thailand "has declared Bitcoin illegal following which all trading activities related to the electronic currently have been suspended indefinitely. Through a message posted on its website, the Bitcoin Co. Ltd. has said officials of the Foreign Exchange Administration and Policy Department cited absence of applicable laws, capital controls "and the fact that Bitcoin straddles multiple financial facets" as reasons because of which the virtual currency is illegal. This ruling implies that activities such as buying & selling of Bitcoins, buying or selling any service in exchange of Bitcoins, sending Bitcoins to anyone located outside of Thailand, and receiving Bitcoins from anyone outside of Thailand are illegal. This has forced the company to indefinitely suspend operations."
This has forced the company to indefinitely suspe (Score:5, Interesting)
huh? which company....bitcoin doesnt only run out of thailand, does it?
Re: This has forced the company to indefinitely su (Score:5, Interesting)
That would be the Bitcoin Co Ltd exchange (https://bitcoin.co.th/) .. that's having issues with the Bank of Thailand (Thailand's central/reserve bank) ..bahtcoin is still open for the moment
This appears to be ramping up - last month bitspend had it's accounts frozen from Chase citing potential money laundering, and new allegations of ponzi schemes are making all the federal regulators nervous - as they should be