Thailand Cyber Crime Investigation Bureau, polymarket He suggested banning the leading decentralized cryptocurrency prediction platform called. Authorities stated that the platform could be considered as online gambling activity and that this contradicts the law. In the statement, it was pointed out that platforms that allow betting with crypto currencies, such as Polymarket, carry economic and social risks. It was also emphasized that such activities could cause grievances in society and cryptocurrencies could be used in illegal areas.
Obstacle to Polymarket in Singapore and Taiwan
Polymarket has faced bans and restrictions not only in Thailand but also in other countries. in the past days SingaporeUsers reported that they had difficulty accessing the platform’s website. Singapore authorities added a warning to the platform’s homepage stating that Polymarket was conducting illegal activity.
Similarly Taiwanimposed access restrictions on Polymarket last year. Local authorities even announced that legal action was taken against a person for betting $530. This example in Taiwan shows that legal proceedings against Polymarket are not limited to just access, but can also extend to individuals using the platform.
Access to Polymarket USA And France It is also restricted in countries such as. In all these countries, despite the decentralized structure of the platform, the use of cryptocurrencies in illegal gambling is strictly controlled.
Will Sanctions Against Polymarket Continue?
Thai authorities have not announced a clear timetable for when access to Polymarket will be blocked. However, this step is cryptocurrency It appears to be linked to an increased regulatory effort on its activities. Closing platforms such as Polymarket will cause harm to both users and users. cryptocurrency marketIt raises questions about how it will be affected.
This initiative in Thailand is considered as part of efforts to prevent the use of cryptocurrencies in illegal activities. However, the dynamic nature of decentralized finance will determine how effective such bans will be. If Polymarket is closed, users are expected to turn to alternative platforms. Still, this is important as it shows that countries’ approaches to cryptocurrency platform regulations remain obstructive.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
