In a statement, Thailand’s Security and Exchange Commission expressed concern that cryptocurrencies present a risk to the stability of the Thai financial system and economy.

Businesses are required not to advertise availability for crypto payments.

If a digital asset business finds that a client is using crypto for payments instead of for investing, the business is required to notify officials, or even suspend the user’s account.

The Tourism Authority of Thailand, too, was optimistic about crypto attracting wealthy, high-value tourists after a pandemic-induced travel slump.