US EditionThailand to allow crypto spending for tourists, eyes regulatory reform
- Thailand plans to enable visitors to make purchases using their cryptocurrency by linking their digital assets to credit cards, with merchants receiving payments in Thai baht as usual.
- This move follows the government’s broader plan to support digital asset innovation and enhance regulatory frameworks for financial stability and investor protection.
- Authorities from the Ministry of Finance together with the Bank of Thailand are evaluating a pilot initiative designed to allow smooth cryptocurrency payments without requiring local merchants to handle digital currencies directly.
- During a seminar held in Bangkok on May 26, the country's Deputy Prime Minister, who also serves as Finance Minister, highlighted that the system circumvents direct transactions involving the Thai baht, which may help lower financial risks.
- These reforms aim to modernize Thailand's financial system, unify traditional and digital asset markets, and strengthen Thailand's position as a tech-friendly tourist destination.
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16 Articles
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