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  • Debashree Patra
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    Fun-loving and cheerful, a passionate blockchain and crypto writer who knows no boundaryโ€ฆconnect if you share the same passion. With 10+ years of writing experience, I am a Crypto Journalist by chance, exploring, and learning all the dynamics of the sci-fi action-filled crypto world. Currently, focusing on cryptocurrency news and price data. With a passion for research and challenging my capabilities, I am slowly getting into the crypto arena to bring new insights every day.

    • 2 minutes read

    Thailand Unlocks Crypto Payments for Tourists Without Impacting Local Currency

    Story Highlights
    • Thailand to let tourists spend crypto seamlessly via credit cards, with merchants receiving bahtโ€”no FX risk, no crypto exposure.

    • Thailand unveils bold financial reforms, merging crypto with traditional markets and backing blockchain tools like tokenized bonds.

    Thailand is stepping into the crypto spotlight, with fresh plans to let tourists spend cryptocurrencies during their visit, all while pushing forward a regulatory revamp of its financial sector. As per the local media report, Deputy Prime Minister and Finance Minister Pichai Chunhavajira unveiled the countryโ€™s bold new direction at a May 26 investment seminar in Bangkok.ย 

    The best part of this plan is that it will not impact the local currency, and no one knows that the user paid in crypto. Itโ€™s indeed a great initiative since many foreign nationals were in favour of this innovative move. 

    Crypto Spending Without the Hassle

    Thailand, to attract tourists, will soon allow them to link their crypto holdings to credit card platforms for seamless spending. In this model, users pay in crypto, but merchants receive Thai baht, often without knowing crypto was used. This clever setup minimizes risks to the domestic currency and could be rolled out quickly, pending infrastructure and regulatory readiness. 

    Sweeping Financial Reforms Coming

    Alongside the crypto tourism push, Thailand is reviewing outdated laws that separate the traditional capital markets and digital assets. Pichai emphasized the need for a unified legal framework and fewer restrictions on institutional investors like life insurers, who are currently limited to low-risk government bonds. Upcoming reforms may let them invest more freely in equities and private assets.

    To enhance enforcement and market fairness, a draft law is being prepared to expand the Thai SECโ€™s authority, allowing it to take major cases straight to prosecutors. The government is also eyeing tighter rules on high-frequency trading and reforms around treasury stocks.

    Pichai Backs Blockchain Innovation

    Pichai reiterated his support for digital assets, highlighting the upcoming launch of blockchain-based โ€œG-Tokensโ€ that will allow retail investors to buy fractional government bonds. This follows Thailandโ€™s move to greenlight stablecoins like USDT and USDC for crypto trades and plans to launch tokenized securities for institutional players.

    With these moves, Thailand is signaling its intent to become a crypto-forward destination while modernizing its financial landscape.

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    FAQs

    Is Thailand crypto tax-free?

    No, Thailand is not crypto tax-free. Gains from crypto are generally subject to personal income tax, although VAT has been exempted on certain crypto transactions.

    Which government body regulates crypto in Thailand?

    The Securities and Exchange Commission (SEC) is the primary regulator for digital assets in Thailand, working with the Ministry of Finance and Bank of Thailand

    Will crypto spending impact Thailand’s local currency?

    No, the system is designed so users pay in crypto but merchants receive Thai baht, minimizing risk to the domestic currency.

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