April sees surge in retail cryptocurrency tradersThe number of retail cryptocurrency traders in Thailand continues to skyrocket with 24,000 new accounts created in one week in April following the Securities and Exchange Commission's (SEC) approval for Bitkub to resume accepting new accounts. Some traders in such groups suggested opening accounts with foreign exchanges as they accept credit cards as payment method while local exchanges do not. Poramin Insom, founder and director of Satang Corporation, said the Bank of Thailand had banned credit cards as payment methods for cryptocurrency trading since 2018. However, some transactions may have evaded the bank's inspection as the merchant codes for those transactions were not identified as cryptocurrency trading. Mr Poramin said traders should not take risks with a higher interest rate cost of credit cards because the price of cryptocurrencies is highly volatile.

Source: Bangkok Post April 21, 2021 21:00 UTC