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[Niftyicon]

The Thailand SEC on the 9th of June pronounced the ban of memecoins, fan tokens and non-fungible tokens from being traded on crypto currency exchange platforms in the country. According to Bitcoin.com, the body claims that the regulation is in the interests of digital assets traders and it becomes effective from the 11th of June while giving Exchanges a 30 day period to set things in order for compliance.

I think coins such as dogecoin and the numerous memecoins we have now would not be having any spots on exchange platforms in Thailand.

 

[Wisdom01]

I think since they banned meme coins , it would be so difficult for the people to be able to acquire , probably they have seen the way many meme coin usually collapse rapidly in price and they dont have a strong backing project ,this could be the reason they are actually banning meme coin and others I think

 

[Ben Kempton]

I think since they banned meme coins , it would be so difficult for the people to be able to acquire , probably they have seen the way many meme coin usually collapse rapidly in price and they dont have a strong backing project ,this could be the reason they are actually banning meme coin and others I think

I am think what will people do who trade in Meme coins? Thailand is a country where many people deal in NFTs and I think that those traders will now deal secretly and many would never even disclose the fact that they have anything to do with NFTs. NFTs are being used by many Thai people when it comes to creation of arts and crafts. I am sure that the government will have a much hard time stopping them.

 

[Josemendez]

I support the ban on meme coin. There has been many meme coins trooping out and most of them have rekted many people. The ban will help prevent these scam. The only sad thing is that the ban wasn't just only meme coins but all the crypto tokens and non fungible tokens

 

[fiery phoenix]

I support this ban,meme coins are coins created as a joke with no intention of them being used for anything meaningful whether it be payments,purchases,trading or holding as an asset,they are schemes and experimental coins targeted at unwise investors.Thats why dogecoin has recent claims of being used as a pyramid by some big whales because it is seen as a zero utility coin which is useless

 

[Wisdom01]

I am think what will people do who trade in Meme coins? Thailand is a country where many people deal in NFTs and I think that those traders will now deal secretly and many would never even disclose the fact that they have anything to do with NFTs. NFTs are being used by many Thai people when it comes to creation of arts and crafts. I am sure that the government will have a much hard time stopping them.

yes I feel the people would have to do it secretly same with if they are banned from trading some tokens ,the government can't just come to everyone house to monitor they are doing ,they are just putting up news like this to scare off some that want to indulge in nft probably tho

 

[Ben Kempton]

I support this ban,meme coins are coins created as a joke with no intention of them being used for anything meaningful whether it be payments,purchases,trading or holding as an asset,they are schemes and experimental coins targeted at unwise investors.Thats why dogecoin has recent claims of being used as a pyramid by some big whales because it is seen as a zero utility coin which is useless

I think that there are other coins as well that are also used for pyramid schemes as well. For example, there are so many HYIP sites that use Bitcoin as a "payment method", but in reality they are merely using Bitcoin as a pyramid scheme just to collect money from investors.

 

[Wisdom01]

I support this ban,meme coins are coins created as a joke with no intention of them being used for anything meaningful whether it be payments,purchases,trading or holding as an asset,they are schemes and experimental coins targeted at unwise investors.Thats why dogecoin has recent claims of being used as a pyramid by some big whales because it is seen as a zero utility coin which is useless

the meme coin truly dont have a strong project backing ,that's why many are not placing interest in the meme coin they have not seen the importance of it nevertheless ,they are just created for entertainment purpose and some people can't take such thing so serious

 

[a_jerobon]

I think that this is a great move by Thailand of banning memecoins. That is because they did not ban all the cryptocurrencies, just those created as a joke. Of which there are so many of those and they mislead people so much. You may invest in them then they just collapse without notice. That causes one to loose so much money.

 

[fiery phoenix]

the meme coin truly dont have a strong project backing ,that's why many are not placing interest in the meme coin they have not seen the importance of it nevertheless ,they are just created for entertainment purpose and some people can't take such thing so serious

Meme coins are in the same category with metaverse coins.Their hype is short lived and if get involved in the hypes you might be the one to loose a lot of money when it dumps unexpectedly.I think meme should just be taken off all regulated crypto exchanges as they are putting people into chaos

 

[Wisdom01]

Meme coins are in the same category with metaverse coins.Their hype is short lived and if get involved in the hypes you might be the one to loose a lot of money when it dumps unexpectedly.I think meme should just be taken off all regulated crypto exchanges as they are putting people into chaos

most exchange platform would not want to take it away from their platform because of the gains from trading fees and others ,they are not interested in the interest of the users ,most of the exchange platform are only concerned about their personal gains and nothing else

 

[BullyMaguire]

Okay this makes sense. Meme coins and NFT whether we admit like it or not.. are mostly driven by hype.. and hype do died out aswell after some time . And let's be honest that a lot of those meme coins are created for a temporary pumps.. after that. There's lots of rugpull

 

[Ben Kempton]

the meme coin truly dont have a strong project backing ,that's why many are not placing interest in the meme coin they have not seen the importance of it nevertheless ,they are just created for entertainment purpose and some people can't take such thing so serious

I am still wondering why certain meme coins do not have a really great back up when it comes to projects when the fact of the matter is that there are so many meme coins that have really great market capitalisation and good trading volume as well. There are a few meme coins that are actually supported by a few online investment projects, though.

 

[Wisdom01]

Okay this makes sense. Meme coins and NFT whether we admit like it or not.. are mostly driven by hype.. and hype do died out aswell after some time . And let's be honest that a lot of those meme coins are created for a temporary pumps.. after that. There's lots of rugpull

yes there have been lot of rug pull on meme coins of recent ,I think we are the ones to be careful with the way we invest in them ,if actually we dont want to get scammed and invest in a rug pull that would take all our savings off and others ,we have to be careful with the way we invest

 

[Ben Kempton]

yes there have been lot of rug pull on meme coins of recent ,I think we are the ones to be careful with the way we invest in them ,if actually we dont want to get scammed and invest in a rug pull that would take all our savings off and others ,we have to be careful with the way we invest

According to some data from sources like Statista, Thailand is one of the countries where many NFT users and holders reside. As we can expect, the Thai government needs to capitalise on any opportunity and this is why they planned to somehow regulate such kind of NFTs in the country and this is where they had less control. Perhaps this is why they took such kind of stance.

 

[Wisdom01]

According to some data from sources like Statista, Thailand is one of the countries where many NFT users and holders reside. As we can expect, the Thai government needs to capitalise on any opportunity and this is why they planned to somehow regulate such kind of NFTs in the country and this is where they had less control. Perhaps this is why they took such kind of stance.

since they are one of the country that many nft users reside , the government should introduce tight regulation and not banning it , because many are employed through nft , so imagine the government banning nft , how the development would still work out from

 

[IB DD]

The Thailand SEC banned meme coins for the same reasons we have been screaming here. A crypto coin and a financial asset that doesn't really rely on market forces but influencers to determine it's value is not worth it.

The Thai SEC said the move to ban meme coins was to protect investors and I see a truth in that.