Thai bank accounts are frozen, trust is declining, Thais turn to Bitcoin

With the increase in cases of freezing of Thai bank accounts, more and more citizens use Bitcoin as an alternative financial tool. Major banks such as KTB and SCB have frozen thousands of accounts due to regulatory and anti-money laundering investigations, affecting small businesses and individuals that rely on digital transactions. Cryptocurrency exchanges such as Bitkub reported a 35% increase in new users and a 50% increase in trading volume over the past year. Although regulatory uncertainty and technical barriers remain, this trend reflects a wider shift to decentralized assets amid the distrust of traditional banks.