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Thailand Considers Introducing a Bitcoin-Based Payment System
Former Prime Minister Thaksin Shinawatra has expressed strong support for the adoption and application of cryptocurrencies, including bitcoin. Currently, the Bank of Thailand restricts the use of cryptocurrencies for payment purposes. However, Thaksin’s stance suggests that the country may reconsider its policy.
Thaksin emphasized the need to follow international trends and regulations, such as the SEC’s guidelines, to promote economic growth. He also predicted that the price of bitcoin could reach as high as $850,000 in the future.
According to data from Statista, over 20% of Thailand’s population, which translates to approximately 15.4 million people, are already involved with cryptocurrencies. Forecasts suggest that this number may increase to 17.67 million by 2028. This trend is undeniable, according to Thaksin, who believes that in the future, more digital assets will be integrated into economies than fiat currencies.
The Ministry of Finance is currently reviewing the potential use of bitcoin for daily transactions, but Thaksin suggests that tourism-based applications may take precedence over regular usage. The question remains as to whether bitcoin holders would be willing to spend their accumulated funds on luxury goods and services.
It is unclear at this point whether Thailand will follow international trends and introduce a bitcoin-based payment system, but it’s clear that the country is considering its options.
Source: http://www.bitcoinbazis.hu
