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In the US it's illegal to print your own currency and use it for commercial purposes. This doesn't preclude the ability to legally exchange goods in a foreign
by munk-a 5y ago
In the US it's illegal to print your own currency and use it for commercial purposes. This doesn't preclude the ability to legally exchange goods in a foreign currency because, while there may be a whole lot of potential currencies, it's not that difficult to create an allowlist of approved currencies.
I personally think this is a pretty stupid decision, but iit should be pretty easy to fairly apply so long as the Thai SEC lays out clear guidelines on which currencies are approved.
And, I am avoiding making any sort of comment on whether currencies are worthy of being on that approved list. It's Thailand and the sovereign government has the right to make currency regulation decisions as arbitrarily as it wants.
- kahirsch 5y ago> In the US it's illegal to print your own currency and use it for commercial purposes. You can't make people accept your own currency, but you can print it and use it for commercial purposes if people want to accept it.
- cdumler 5y agoThere are plenty of private currencies in the U.S [1]. Printing them and using them are just fine as along as A) you do not attempt to pass it off as Federal currency and B) you do not refused to accept renumeration in Federal currency (the "for all debts, public and private" part) without pre-stated agreement. We agree you will mow my lawn and I will pay you 50 Disney Dollars, that is fair and legal. That said, the person doing the mowing the law owes income tax on the fair market value of the Disney Dollars. [1] https://en.wikipedia.org/wiki/List_of_community_currencies_in_the_United_States https://en.wikipedia.org/wiki/List_of_community_currencies_i...