Thai banks froze millions of accounts amidst an anti-scam effort affecting innocent individuals. Since August 2025, this crackdown has targeted three million accounts, creating issues for online vendors and prompting many residents to seek alternative solutions such as Bitcoin.
The Central Bank of Thailand imposed transfer limits to prevent scams, generating public concern about customer rights. Expatriates have been particularly vocal about being locked out of banking services without explanations, urging the government to find a middle ground.
Residents express gratitude for Bitcoin amid the banking crisis. Despite the Bank of Thailand’s restrictions on digital currencies for payments, discussions are underway to create solutions for law-compliant account holders facing freezes.
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