Are you sure about this? I reread the
Exchange Control Act, and it seems to authorize the Bank to do what it did. But
IANAL, so I may be wrong on this.
Foreign currency means legal tender in any country other than Thailand including foreign exchange;
Is Bitcoin legal tender in any country? As far as I know, the answer is no, so how does a law defining "Foreign currency" as "legal tender in any country other than Thailand" have anything to do with Bitcoin?
Apparently Bitcoin was okay when it was not considered a currency, but has now been recognized as one.
Initially the Bank of Thailand had bypassed the companys money exchange license on the basis that Bitcoin was not a currency, however the company was invited back, on July 29th, 2013, to participant in a conference about how Bitcoin works in general, and business operations of Bitcoin Co. Ltd. The conference was held with about 15 members of the Bank of Thailand in attendance. During this conference, managing director of Bitcoin Co. Ltd. gave a presentation about the workings of Bitcoin, the benefits of Bitcoin, incite into the companys operations and future implications of Bitcoin.