Summary
- The Securities and Exchange Commission of Thailand and the Bank of Thailand announced a joint initiative to launch a virtual asset (cryptocurrency) sandbox for foreign tourists.
- This sandbox will enable foreign tourists to exchange virtual assets, including Bitcoin (BTC), into Thai Baht for use in Thailand.
- The currency exchange will take place through officially licensed operators, and the exchanged Baht can be used for payments via regulated e-wallets.
The Securities and Exchange Commission of Thailand (SEC) and the Bank of Thailand are jointly launching a virtual asset (cryptocurrency) sandbox targeting foreign tourists.
According to the local Thai media outlet Bangkok Post on the 17th (local time), this regulatory sandbox will allow foreign tourists to exchange virtual assets such as Bitcoin (BTC) into Thai Baht for use.
Currency exchange will be conducted through officially licensed operators, and the exchanged Baht can be used for payments across Thailand via regulated electronic wallets (e-wallets).
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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