Thailand Moves to Attract Crypto Tourists With Regulated Payment Initiative
The post Thailand Moves to Attract Crypto Tourists With Regulated Payment Initiative appeared on BitcoinEthereumNews.com. Regulations Thailand is preparing to test a regulated crypto payments system aimed at foreign tourists, as the country doubles down on its ambition to become a digital finance leader in Southeast Asia. In a new initiative led by the nation’s Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT), tourists will soon be able to convert crypto into Thai baht for local spending through a newly proposed sandbox framework. The pilot will allow select digital asset firms — exchanges, brokers, and dealers — to onboard travelers, convert their crypto through regulated channels, and enable spending via licensed e-money providers. While crypto won’t be accepted directly at point-of-sale, the system aims to create a seamless experience where converted funds can be used through digital wallets and QR code payments. Participants must adhere to strict compliance measures, including KYC/AML protocols, blockchain forensics for tracing illicit activity, and regulatory reporting obligations. The sandbox will run for 18 months, giving regulators space to observe behavior, assess risks, and gather feedback. Nirun Fuwattananukul, CEO of Binance Thailand, sees the proposal as an evolution of earlier ideas floated by former officials. While previous concepts were localized — such as Phuket’s crypto payment experiment — the current plan has full regulatory backing and national scope. “This isn’t just another pilot,” said Fuwattananukul. “It’s Thailand stepping up with a coordinated, compliant vision for crypto adoption.” The sandbox fits into a broader pro-crypto agenda. In recent months, Thai regulators have floated exchange reform proposals, and the government has introduced a five-year capital gains tax holiday for digital asset investors beginning in 2025. Together, these developments suggest a coordinated national push to welcome blockchain innovation, while keeping consumer protections and financial oversight intact. Author Alexander Stefanov Reporter at Coindoo Alex is an experienced financial journalist and cryptocurrency enthusiast.…
The post Thailand Moves to Attract Crypto Tourists With Regulated Payment Initiative appeared on BitcoinEthereumNews.com.
Regulations Thailand is preparing to test a regulated crypto payments system aimed at foreign tourists, as the country doubles down on its ambition to become a digital finance leader in Southeast Asia. In a new initiative led by the nation’s Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT), tourists will soon be able to convert crypto into Thai baht for local spending through a newly proposed sandbox framework. The pilot will allow select digital asset firms — exchanges, brokers, and dealers — to onboard travelers, convert their crypto through regulated channels, and enable spending via licensed e-money providers. While crypto won’t be accepted directly at point-of-sale, the system aims to create a seamless experience where converted funds can be used through digital wallets and QR code payments. Participants must adhere to strict compliance measures, including KYC/AML protocols, blockchain forensics for tracing illicit activity, and regulatory reporting obligations. The sandbox will run for 18 months, giving regulators space to observe behavior, assess risks, and gather feedback. Nirun Fuwattananukul, CEO of Binance Thailand, sees the proposal as an evolution of earlier ideas floated by former officials. While previous concepts were localized — such as Phuket’s crypto payment experiment — the current plan has full regulatory backing and national scope. “This isn’t just another pilot,” said Fuwattananukul. “It’s Thailand stepping up with a coordinated, compliant vision for crypto adoption.” The sandbox fits into a broader pro-crypto agenda. In recent months, Thai regulators have floated exchange reform proposals, and the government has introduced a five-year capital gains tax holiday for digital asset investors beginning in 2025. Together, these developments suggest a coordinated national push to welcome blockchain innovation, while keeping consumer protections and financial oversight intact. Author Alexander Stefanov Reporter at Coindoo Alex is an experienced financial journalist and cryptocurrency enthusiast.…
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