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Speculation has grown that Thailand’s new PM, 37-year-old Paetongtarn Shinawatra may favor pro-crypto regulations in her country. Analysts believe that the Asian country’s youngest PM could steer her nation in a new direction when it comes to cryptocurrency regulations. Thailand is in the middle of passing regulations about digital assets in 2024. Since April, Thailand’s Securities and Exchange Commission (SEC) has been making rules for crypto platforms. The SEC Board approved the crypto regulatory sandbox last month. Paetongtarn Shinawatra on the Digital Wallet scheme at a press conference following the Royal Command ceremony appointing her as Thailand’s 31st Prime Minister. “The 10,000 Baht Digital Wallet scheme is intended to stimulate the country’s economy on a large scale. However, over… pic.twitter.com/7INOqCf6ad — Thenationthailand (@Thenationth) August 18, 2024 Paetongtarn Shinawatra elected as Thailand’s new PM Paetongtarn Shinawatra became her country’s youngest prime minister at 37 after she received the king’s official endorsement. Shinawatra will resume administration after a decade-long period of military rule. She is the daughter of former prime minister Thaksin Shinawatra and is related to Thailand’s first female prime minister. Both were reportedly ousted by military coups. After the Thai court’s August decision to remove Srettha Thavisin as prime minister, Shinawatra won nearly two-thirds votes in the parliament. Crypto commentator, MartyParty said on X, “[Paetongtarn Shinawatra] is a crypto bull. Her father was a crypto bull.” MartyParty’s comments further fueled speculation that Thailand could adopt crypto as legal tender. Shinawatra’s stance on the digital wallet scheme is unclear According to a report by Nikkei Asia, the former government’s digital wallet scheme, which wanted to distribute 10,000 baht to low-income citizens, could be scrapped. Insiders reported to the news agency that Shinawatra has been non-committal about the digital wallet plan. Last week, Thailand’s SEC made way for the launch of a…

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Filed under: News - @ August 20, 2024 12:25 pm