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Thailand, one of the biggest tourist-friendly countries in the world, is now focusing on opening up crypto spending for tourists in a bid to become even friendlier. The news about this comes from Bangkok Post and The Nation, which reported the Deputy Prime Minister and Finance Minister, Pichai Chunhavajira, discussing these plans during an investment seminar in Bangkok. The initiative is currently under review by the Ministry of Finance and the Bank of Thailand, and if approved, will allow tourists to link their cryptocurrencies to credit cards. “This approach can be immediately adapted for Thailand, provided the supporting systems are in place,” said Pichai. It was also stated that since it won’t involve using the Thai Baht directly, risks to the domestic currency will be reduced. While the news may not have a major impact on the cryptocurrency market, it does open up the conversation around crypto and daily spending. And when that becomes a norm, finding the best crypto to buy now will become important. Thailand Isn’t Stopping at Crypto Spending for Tourists While Thailand’s focus on allowing crypto spending for tourists is crucial to its economy, it is not the only aspect they are considering. Major plans are being made to reform the financial laws, with Pichai stating that the Thai government needs to treat the traditional capital market and the digital asset space in the same way. Many of the country’s financial regulations are outdated, notes Pichai, who also stated that these could stymie the growth of institutional investors. The fact that life insurers and large funds holding hundreds of billions of Thai Baht are restricted to government bonds is also not ideal for the nation. The upcoming rules by the Ministry of Finance are also focused on ensuring fairer market operations by keeping an eye on…

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Filed under: News - @ May 28, 2025 6:27 am