Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Yes, as the statement notes, the Thai government didn't seek anyone out, and don't appear to be actively interested in whether people are making Bitcoin transactions. Rather, a company, Bitcoin Co. Ltd., asked the Bank of Thailand for an opinion on the legality of their operations and whether any licenses were needed. The Bank of Thailand responded that such activities can't be licensed under current law. Therefore, Bitcoin Co. Ltd. decided to suspend operations to avoid running afoul of the law.


I think your logic is wrong. The Bank of Thailand clearly stated that such operations are illegal. They did not say that they cannot legislate it but rather, that they are illegal and must not be carried out. And this is the reason why Bitcoin Co. Ltd. suspended operations. Now what you stated. I think the text was quite clear.


Yes, that's what my comment indicates: the company inquired whether a license is needed, and whether it could be granted. The Bank of Thailand says that yes, one would be needed (they are engaged in financial services, after all), but under current law cannot be granted (there is no provision for licensing the kind of financial services the company proposes to carry out). Hence, the company decided to suspend operations.

The point is that the initiators of the discussion were a company seeking information about operating as a financial-services company. It wasn't a police-initiated operation, like a raid on an individual buying things with Bitcoin, or something of that sort.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: