Representatives of the central bank of Thailand has claimed that financial institutions can buy and sell cryptocurrencies after receiving permission from the Securities and Exchange Commission (SEC).
A local resource also reports that the SEC still prohibits commercial banks from “carrying out cryptocurrency transactions”. In other words, banks can buy or sell digital assets, but they are not allowed to buy anything for them.
Besides that, Thai banks are allowed to train customers in blockchain technology and advise on investing in digital assets.
Thailand wants to legalize crypto and initial coin offering (ICO). For example, last month the authorities introduced rules for the regulation of ICO, which requirements for the authorized capital of companies and investment restrictions for retail investors.