Authorities will give foreign exchange service providers more flexibility in business to encourage innovation and new technologies, the Bank of Thailand (BoT) said in a statement on Tuesday.
The revision of foreign exchange regulations, which govern commercial banks, money changers and transfer agents, also allows for new types of services and promotes competition, said assistant governor Alisara Mahasandana.
The new measures include allowing companies to register products in the central bank's 'sandbox' testing scheme for new technologies, and a simplified licensing regime.
