Thailand is preparing to allow tourists to spend the cryptocurrency through the platforms linked to credit cards as part of a broader strategy to update its financial system and embrace digital assets.
Deputy Prime Minister and Minister of Finance Pichai Chhunhavagira announced the Deputy Prime Minister and Finance and Finance of Pachay Chhunhavagira during an investment symposium in Bangkok on May 26, according to reports from Bangkok Post and Nation.
The initiative, which is currently being reviewed by the Ministry of Finance and Thailand Bank, will enable tourists to connect encryption holdings to credit cards for local purchases.
Tilande faded traders will receive as usual, often without knowing the encryption in the deal. The pilot is expected to be launched after the main infrastructure and organizational checks are located.
“This approach can be adapted immediately with Thailand, provided that the supportive systems are present,” Pichai said, noting that the model avoids using the Thai pale directly, which reduces the risks of the local currency.
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Organizing capital markets under review
In addition to enabling the use of encryption for tourism, Thailand also plans to reform its financial laws. Pichai said that the government needs to unify the legal treatment of the traditional capital market and the area of digital assets, which is currently governed by separate work.
Bishi also said that the government has retracted old restrictions on institutional investors as part of the wider capital market reform. Life insurance companies and large funds carry hundreds of billions of Thai bonds are limited to government bonds. The next changes may open more money on shares and private sector assets.
According to what the Ministry of Finance is also looking to repair rules on treasury shares and ensure the most fair market operations by organizing high -frequency trading practices.
The draft law is operated in the work of expanding the influence of the Securities Committee and the Thai Stock Exchange, which may allow it to bring the main issues directly to the public prosecutors.
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Pichai expresses the support of digital assets
Pichai repeat the support of digital assets, while emphasizing the need for clear rules that enable innovation without risking financial stability.
The “G-Tokens” proposal, a Blockchain initiative aimed at allowing retail investors to buy government bonds in fracture units. He said that these symbols are expected to improve the returns in favor of savers and raise the global appearance of Thai sovereign debt.
On May 13, Ministry of Finance Declared plans to issue 150 million dollars Digital investment symbols that allow retailers to buy government bonds.
This came after the country’s securities The organizer revealed plans To launch a Distinguished Securities The trading system for institutional investors in February.
In March, and Thai SEC also agreed UTETAR Usdt (USDT) And Circle’s USDC (USDCFor cryptocurrency trading, allowing Stablecoins to be included in the organized stock exchanges throughout the country.
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