Thailand Eyes Crypto-Linked Credit Cards, Revised Digital Asset Rules

Thailand actively investigates legislation that would allow both tourists and citizens to spend their digital assets through connected credit cards.

According to the Thai publication in English NationThe Ministry of Finance of the country aims to simplify transactions for visitors. According to the new plans, the sellers will be paid in a local currency as usual, and to be aware that the buyer used cryptocurrencies.

The Ministry is already in conversations with the central bank of the country, Bank Thailand (Bot), to pilot the system before the wider presentation. In addition, the Deputy Government and the Minister of Finance in Pichai Chunhavavira presented several other pro-Crypto measures at an event in Bangkok on Monday.

Chunhavajira said that the government plans to connect legal frameworks that regulate the “capital market” in the country and its “digital asset market”.

They are currently governed by two separate legislations: the law on securities and exchange and the Emergency Regulation on Digital Property Business.

Officials said the goal is to enable investors to “conveniently transfer funds between the two markets, more appropriately accepting modern investment behavior.”

Thailand Eyes Crypto Tourism

This move should not be a big surprise – Thailand has been spending these types of crypto payments in certain regions for a long time.

In January, the Government is a trial program to pay cryptocurrencies On the island of PhuketMain regional crypto center with high tourist numbers. Meanwhile, small communities like Huay Phueng County in Kalasin Province have adopted payments of bitcoin Mass, with more than 80 local companies in the area they accept the cryptocurrency currency.

Initiatives such as these come as a country, which greatly relies on tourism, fought with a recent decline in the number of visitors, in the middle Smaller number of Chinese tourists and relatively stronger local currency.

In the meantime, other Asian nations explore that the crypto infrastructure can enhance tourism. Little Himalayan Land Butan Recently added to the crypto payment Throughout its tourist ecosystem, allowing payments for all, from flight to street food, the kindness of partnership with Binance Pay.

Edited Stacy Elliott.