Thailand is set to allow tourists to spend cryptocurrency through credit card-linked platforms, enabling them to link their crypto holdings to credit cards for local purchases.
Merchants will receive payments in Thai baht as usual, often without knowing that cryptocurrency was used in the transaction. This initiative is currently under review by the Ministry of Finance and the Bank of Thailand and aims to modernize the financial system while minimizing risks to the domestic currency by avoiding direct use of the Thai baht for crypto transactions.
Alongside this pilot program for tourists, Thailand is planning comprehensive regulatory reforms to unify the legal frameworks governing traditional capital markets and digital asset markets, which currently operate under separate laws.
The reforms aim to provide greater flexibility for investors, allowing easier transfer of funds between stock and crypto markets. The government is also reviewing restrictions on institutional investors, potentially opening up more investment opportunities. Additionally, a draft law is being prepared to enhance the Securities and Exchange Commission’s enforcement powers.
The government supports digital asset innovation. This is part of a broader effort to raise Thailand's profile in digital finance.
Thailand's new approach to crypto spending for tourists and its regulatory reforms reflect a strategic move to integrate digital assets into the mainstream economy while maintaining financial stability and investor protection.
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