Thailand SEC: "G Token Cannot Be Used for Payments... Intended for Government Fiscal Stability"

Uk Jin

Summary

The Thailand SEC stated that the G Token cannot be used as a means of payment and does not have a speculative nature.
The G Token is reported to be designed to offset the government's budget deficit and secure public funds.
The G Token is set to be issued by the PDMO under the Ministry of Finance this coming July and will be made public through an ICO portal.

Thailand has clarified its stance on the government's bond token, 'G Token'.

According to the Bangkok Post on the 27th (local time), the Thailand Securities and Exchange Commission (SEC) stated in a press release, "The soon-to-be-launched G Token cannot be used as a means of payment and does not have a speculative nature like other virtual assets (cryptocurrencies)."

The G Token is a new digital token to be issued by the Public Debt Management Office (PDMO) under the Ministry of Finance this coming July. The Thailand SEC emphasized that it is designed to offset the government's budget deficit and secure public funds.

The G Token will be issued through an Initial Coin Offering (ICO) portal selected by the PDMO. The Ministry of Finance will act as the registering authority.