After presenting its concept for the introduction of the Thai Bitcoin Stock Exchange by Bitcoin Co. Ltd. The Thai Central Bank has issued a ban on the purchase and sale of the virtual currency and prohibited transactions inside and outside the national borders.
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After Bitcoin Co. Ltd. Had presented their concept for the introduction of an exchange operation and the business model in a meeting with Bank of Thailand executives on Monday, the bank said the ban. The justification is that there is a legal basis and control mechanisms.
BTCBase - What is Bitcoin?
However, the central bank wants to continue to deal with the problem in the future. Bitcoin Co. Ltd. Is thus starting back from the Thai market. Thailand is the first country to issue a ban on trading with Bitcoins.
Bitcoins are a digital currency, which can also be created by computer users themselves using a special computer program called "mining". Since there is no banknote or a state behind the payment system, no one can control how many bitcoins are produced or owned. This enables global payment anonymity. The inventor of Bitcoins asserts that the currency is protected from inflation, since a maximum of 21 million bitcoins can exist at the same time. The aim is to create an internationally recognized and stable currency. Currently, the value of a bitcoin is around € 74.
The video below explains what bitcoins are, how to get them, and what to do with them.
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