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07/17 11:01
Thailand Plans Crypto Sandbox Allowing Tourists to
Thailand Plans Crypto Sandbox Allowing Tourists to Convert Crypto into Local Currency
The initiative expands on a prior pilot program focused on Phuket and aims to widen crypto adoption across the country’s broader tourism sector.
Thailand’s Securities and Exchange Commission (SEC) and the Bank of Thailand are preparing to launch a regulatory crypto sandbox that will enable foreign tourists to convert their crypto assets into baht for spending locally.
Key Takeaways:
- Thailand plans to launch a crypto sandbox allowing tourists to convert crypto into baht for spending.
- The program expands on Phuket’s pilot and involves licensed operators.
- Industry experts warn the ecosystem isn’t fully prepared.
The initiative expands on a prior pilot program focused on Phuket and aims to widen crypto adoption across the country’s broader tourism sector, according to a report by the Bangkok Post.
Under the proposed sandbox, visitors would exchange cryptocurrencies through licensed operators and use the converted baht via regulated electronic money platforms, such as QR code payments.
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