Thailand Makes It Easier to Travel with Crypto with New Sandbox
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Key Notes Foreign tourists can convert crypto to baht across Thailand under the new sandbox. The move expands Thaksin’s Phuket crypto plan to a national level. Tax exemptions and financial reforms aim to support crypto adoption. Thailand has reportedly launched a national crypto sandbox allowing foreign tourists to convert their digital assets into Thai baht for spending during their stay. The initiative, jointly driven by Thai SEC and the Bank of Thailand, marks a major move to boost crypto adoption across the country. Previously, former Prime Minister Thaksin Shinawatra had proposed a crypto payments sandbox limited to Phuket to drive tourism. This new plan expands the vision nationwide while shifting from conceptual discussions to a structured, regulator-backed framework. As per a recent report by Bangkok Post, tourists traveling to the Southeast Asian nation will be able to exchange their crypto holdings for baht via licensed digital asset operators. The converted funds would be usable through e-money providers to pay for goods and services. However, crypto cannot be used directly as a means of payment in the country. The sandbox will function as a testing ground for crypto-to-baht services, collecting data to help authorities refine Thailand’s crypto policies and infrastructure while maintaining controls to combat illicit flows. This move is seen as part of Thailand’s broader push to integrate crypto into its economy responsibly and strengthen its tourism sector, a critical pillar of the country’s GDP. Crypto Reforms and Adoption in Thailand Beyond crypto tourism, the Land of Smiles is planning significant financial reforms. Finance Minister Pichai Chunhavajira previously noted the need to unify the laws governing the traditional capital markets and digital assets, which are currently regulated separately. The Ministry of Finance is also looking to revise regulations on treasury stock management, high-frequency trading practices, and investment limits for institutional…
Filed under: News - @ July 17, 2025 10:29 am