Bitcoin, the virtual currency which is growing in popularity, has announced it has suspended trading in Thailand after officials allegedly declared it illegal.
Bitcoin Company Limited says on its website that the central bank informed it on Monday that it’s now considered illegal to trade bitcoins, move them in or out of the country, or use them to buy or sell goods or services.
Thailand attorneys, Chaninat and Leeds specialize in Thai and international business law cases
Some argue however that it is not as clear cut as that, and that the currency has not been banned and there has been a miscommunication of the facts.
Regardless of the present position, this is not the first time bitcoin has hit the headlines. In May, the US arrested one of bitcoin’s largest traders, declaring the monetary exchange service falsified financial documents.