Summary
- Former Prime Minister Thaksin Shinawatra proposed conducting a Bitcoin payment pilot program in Phuket.
- Former Prime Minister Thaksin stated that the introduction of virtual assets is ideal for the Thai industry, which heavily relies on tourism and foreign investment.
- Cooperation between the central bank and the Securities and Exchange Commission is required, but Bitcoin payments are currently prohibited.
Thailand is considering a Bitcoin (BTC) payment pilot program in the popular tourist destination of Phuket.
According to a report by CoinPaprika on the 26th (local time), former Prime Minister Thaksin Shinawatra proposed selecting Phuket as a Bitcoin payment pilot test area under the 2024 digital asset regulatory sandbox.
Former Prime Minister Thaksin emphasized, "The proportion of tourism and foreign investment in the Thai industry is enormous. Therefore, the introduction of virtual assets is very ideal."
However, the Bank of Thailand currently prohibits Bitcoin payments. Since the central bank controls the national payment system, cooperation between the central bank and the Securities and Exchange Commission is necessary to proceed with the Bitcoin payment pilot test.
YM Lee
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