Surge in Crypto Trading Elicits Criticism From Thai Officials
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Retail investors’ “excessive speculation” in cryptocurrencies may fuel instability in Thailand’s capital markets, according to Finance Minister Arkhom Termpittayapaisith.
Local retail investors have been shifting their savings into cryptocurrencies in search of higher returns, Arkhom told a capital market conference Thursday. Trading of cryptocurrencies on the nation’s licensed exchanges jumped to about 65 billion baht ($2.17 billion) in January from 19 billion baht a month earlier, the Securities and Exchange Commission said on its website.