news 
Thailand has taken a significant step towards becoming a crypto-friendly nation by launching a nationwide crypto sandbox for tourists. The initiative aims to enhance the country’s competitiveness and appeal as a tech-savvy destination by offering more flexible payment options.
The Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) have collaborated on this project, releasing a consultation paper seeking public feedback on the program. This new sandbox will enable individuals to convert their digital assets into Thai Baht for use in goods and services through electronic money service providers.
The introduction of this nationwide crypto sandbox is expected to drive innovation and adoption within the cryptocurrency space while ensuring robust consumer protection and compliance standards. The initiative will allow foreign tourists to make transactions with ease, providing a competitive advantage for Thailand in the global market.
In its announcement, the SEC emphasized that the program aims to “promote innovation and use of digital assets to boost the economy and tourism industry.” Thailand’s commitment to fostering cryptocurrency adoption while ensuring regulatory oversight aligns with its vision to become a crypto-friendly nation.
This nationwide initiative is seen as a major step forward for Thailand in promoting financial inclusion, providing more payment options for tourists.
Source: bitcoinist.com
