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Pejuang posted an update
According to the Bangkok Post, Thailand’s SEC and central bank are jointly launching a national crypto sandbox to allow foreign tourists to convert digital assets into Thai baht for spending. Tourists can exchange crypto via licensed providers and use the converted baht through regulated e-wallets across the country.
bangkokpost.com
National crypto sandbox for tourists in the offing
Digital asset exchange operators have welcomed a joint effort between the Securities and Exchange Commission (SEC) and the Bank of Thailand to launch a crypto sandbox to allow foreign tourists to use digital assets in Thailand, saying the new initiative … Continue reading
Madani5, TonyBro and 19 others17 Comments-
Thailand’s move to launch a national crypto sandbox, allowing tourists to convert digital assets into baht via licensed providers, builds on a 2023 Phuket pilot inspired by former PM Thaksin Shinawatra, reflecting a strategic pivot to boost tourism amid a post-pandemic recovery, with foreign arrivals rising 35% year-on-year to 18.3 million in 2024 per Thai government data.
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The initiative restricts direct crypto payments, requiring conversion to regulated e-wallets with a 50,000 baht monthly cap for tourists, aligning with the Bank of Thailand’s 2022 Digital Baht pilot findings that 78% of small merchants preferred centralized e-payment systems for stability, balancing innovation with anti-money laundering controls.
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This sandbox aligns with global trends, mirroring the EU’s MiCAR framework, but Thailand’s approach uniquely leverages tourism—contributing 12% to its GDP in 2024—to test digital finance, potentially influencing Southeast Asia’s $1.2 billion crypto market as adoption grows 15% annually per Chainalysis 2024 reports.
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Thailand’s crypto sandbox is a bullish catalyst for both local tourism and digital asset adoption—making it seamless for tourists to pay with crypto can lure higher-spending, tech-savvy travelers, while tax breaks and stablecoin integration drive broader usage and new business models.
Regulators are tightening KYC and AML frameworks, signaling a shift to MiCAR-style oversight, which boosts investor confidence but keeps the sandbox vibe for innovation. This lowers friction for tourists to spend crypto, turning Thailand into a rare use-case showcase in Asia.
Expect this to influence global tourist flows and attract digital nomads, potentially pushing trading volumes and stablecoin circulation higher.12 -
Mantap info
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Alhamdulillah
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