Virtual currencies 'not legal tender' | Bangkok Post: business

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Virtual currencies 'not legal tender'

Central bank warns against using bitcoins

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The Bank of Thailand has issued a warning against buying virtual currencies including the bitcoin, saying they are not legal tender in the country. 

Users risk not being protected in case of fraud or having the digital currency rejected as payment for goods, the central bank said in a statement.

"Tracking the virtual money's transfer could be difficult in cases where evidence is needed for any legal action. It is different from real money transfers through commercial banks or regulated money transfer service providers that have track records," it said.

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