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Former Thai Central Bank Director Predicts March Crypto Bubble

A former Bank of Thailand director predicts a crypto crash in 2018. In late March, when financial market liquidity drops, he predicts a cryptocurrency bubble.

 

An Ex-Central Bank Director Predicts A Crypto Market Crash

 

Former Bank of Thailand (BOT) Director Anusorn Thammajai reportedly warned that the cryptocurrency market will crash in a couple of months, the Nation reported Sunday. Former central bank director:
A cryptocurrency bubble will emerge at the end of March when liquidity in the financial market drops due to moves by central banks to taper quantitative easing and raise interest rates.
He said the first wave of the crypto bubble has passed, and many cryptocurrencies have lost over 40% this year.
Former Bank of Thailand director says while cryptocurrency helps build a digital financial ecosystem, it also threatens financial systems. Investors in risky assets should be extra cautious in the second quarter of this year.

 

Thammajai also stated that he supports the Thai government’s plans to tax and regulate cryptocurrencies. Illegal businesses are using cryptocurrency for money laundering and other illegal financing, he said.

 

Thailand recently relaxed crypto tax rules, eliminating the planned 15% withholding tax. The Thai Securities and Exchange Commission and the Thai Finance Ministry announced last month that cryptocurrency will be regulated as a payment method.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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