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Thailand gov’t wants digital currency traders to prove income Business
Digital currency traders in Thailand may have to prove their income if the government follows through with its latest policy proposals. The government believes such a measure would cushion amateur traders against huge losses by ensuring they trade within their means.
The Thai Securities and Exchange Commission first revealed the proposed law a week ago. It announced that it would seek a public hearing to determine what qualifications a Thai trader needs before diving into digital currencies. According to the regulator, such qualifications would ensure that investors had “sufficient financial buffers to absorb risk from volatile price swings.”
Nigeria central bank governor defends digital currency ban Business
The Central Bank of Nigeria believes the recent ban on digital currencies was in the best interest of the public. Speaking during a recent Senate hearing, the CBN governor Godwin Emefiele further claimed that digital currencies are not legitimate money.
CBN issued a circular two weeks ago that prohibited all banks from processing digital currency-related transactions. In its circular, it ordered banks to identify individuals and firms dealing in digital currencies and shut down their accounts. Days later, the Senate called on the CBN governor to brief it on the decision. As CoinGeek reported, several senators felt the ban was too harsh and hoped the CBN would reconsider.
India’s Reserve Bank concerned digital currencies will impact financial stability Business
India’s central bank is concerned that digital currencies could impact the country’s financial stability. The governor of the Reserve Bank of India revealed recently that the bank has conveyed its concerns with the government. The renewed skepticism comes amid a rising crackdown by major banks on digital currency transactions.
Governor Shaktikanta Das told CNBC TV-18 that the RBI has “major concerns” regarding digital currencies. While he didn’t elaborate on the nature of concerns, the regulator has in the past cited money laundering as a key concern. The RBI had banned commercial banks from processing digital currency-related transactions in 2018. This ban stood for two years before the Supreme Court overturned it in 2020.