Initially, the central bank of this nation had sought to discourage users from utilizing any digital currencies. Thankfully though, they have since changed that stance. Maybe it's because of the growing public opinion of these alternate forms of payment or maybe they just want to capitalize on something that's clearly not going away.

Either way, Thailand cryptocurrency regulation has begun unfolding in the country by their officials. Investors should keep in mind that though they have become a little more welcoming to BTC and other altcoins, they are still being cautious and will expect certain rules to be followed for their exchange and usage.

The most strict requirements will likely be reserved for exchanges and token sales which intend to operate in the country. Consumers who wish to use these services will be subject to KYC procedures and suspicious activity will be reported to the Thai government in an effort to combat money laundering activities. While citizens of the country will not be hindered in their attempts to use crypto, it seems businesses are not so lucky.

As of February 2018, financial institutions of all kinds are prohibited from investing, trading, creating exchange based platforms, offering advice to their clients about cryptocurrencies and even taking away the ability for them to purchase coins or tokens with their bank-issued credit or debit cards. While it's good that the Thai government has been forthcoming and swift with what is expected, this demand makes them a not very friendly country for crypto enthusiasts, and it may be a good idea to be cautious here.