Thailand’s Security and Exchange Commission is banning the use of cryptocurrencies as means of payment for goods and services, citing the need to protect financial stability and the national economy, among others.
Although cryptocurrencies will no longer be legal as a payment method in Thailand from April 1, holding and trading digital assets will still be permitted. Earlier this month, the Thai government announced that the trading of digital assets on government-approved exchanges would be exempt from a 7% value-added tax.
Meta Platforms, formerly known as Facebook, has filed eight new trademark applications with the United States Patent and Trademark Office (USPTO) involving blockchain and cryptocurrencies as well as other digital services, Washington DC-based trademark attorney Michael Kondoudis revealed.
The applications, which can be viewed on USPTO’s website, cover blockchain software, cryptocurrency tokens, exchanges as well as wallets. “These filings reflect the company's strategy for moving into the metaverse. Meta clearly has significant plans for the virtual economy that will drive it," Kondoudis said in a statement.
See also: Digital Assets Association launches to connect tradfi and tokenised real world assets
Bitcoin is trading 13% higher over the past 7-day period at above US$46,000 apiece, its highest level since Jan 4. Ethereum, the second-largest cryptocurrency by market capitalisation, also surged 15% in the same period, currently trading at above US$3,200 apiece.
Cover photo: Andrew Ly on Unsplash
