news 
Thailand to Pilot Crypto Payments in Phuket to Boost Tourism in 2025
In a groundbreaking move, Thailand has announced the launch of a crypto payments pilot program in Phuket, aimed at boosting tourism in the region by 2025. The initiative will enable foreign tourists to use digital assets for transactions, marking a significant milestone in the country’s efforts to modernize its payment infrastructure.
According to reports, Deputy Prime Minister Pichai Chunhavijira unveiled the plan during a seminar organized by the Thailand Marketing Association on January 8th. The program is designed to position Thailand as a competitive player in the global economy by catering to the growing popularity of cryptocurrencies among international travelers.
Under the pilot scheme, foreign tourists will be able to register their bitcoin through Thai exchanges and complete identity verification before making purchases. A clearing house will then convert bitcoin transactions into Thai baht, ensuring compliance with Thailand’s legal framework.
The Phuket trial is expected to operate within the country’s current legal structure, requiring no amendments to existing laws. This move highlights Thailand’s commitment to embracing innovation in financial transactions while upholding regulatory standards.
It is worth noting that a similar concept has already been successfully implemented in Thailand’s “bitcoin town,” located in Kalasin’s Huai Phueng district. Here, over 80 residents accept payments via the Bitcoin Lightning app, allowing visitors and locals alike to engage in cashless transactions.
Thailand’s initiative reflects a broader movement towards integrating cryptocurrency into daily life. The program will test the feasibility of wider crypto adoption in Thailand and may expand to other regions if successful.
The government’s strategic approach ensures compliance with legal frameworks while fostering innovation in financial transactions.
Source: www.crypto-news.net
