{"id":52322,"date":"2025-01-10T01:09:00","date_gmt":"2025-01-10T01:09:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/thailand-pilot-cryptocurrency-payments-phuket"},"modified":"2025-01-10T03:43:06","modified_gmt":"2025-01-10T03:43:06","slug":"thailand-to-pilot-cryptocurrency-payments-in-phuket","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52322","title":{"rendered":"Thailand to pilot cryptocurrency payments in Phuket"},"content":{"rendered":"<p>Thailand plans to trial cryptocurrency payments in Phuket, one of its most popular tourist destinations, as part of a pilot program offering foreign visitors an alternative payment option.<\/p>\n<p>Deputy Prime Minister and Finance Minister Pichai Chunhavajira reportedly announced the new initiative on Jan. 8 at a seminar organized by the Marketing Association of Thailand, according to Nation Thailand.<\/p>\n<p>Pichai said the pilot will be conducted within existing legal frameworks with no amendments to current laws required to implement the trial.<\/p>\n<p>The program, aimed at integrating digital currency into everyday transactions, will allow tourists to register Bitcoin (BTC) through a Thai exchange and verify their identities before making purchases.<\/p>\n<p><em><strong>Related: <\/strong><\/em><em><strong>Thailand should study crypto to remain relevant \u2014 former Thailand PM<\/strong><\/em><\/p>\n<h2>Government assurances<\/h2>\n<p>According to Pichai, the initiative will operate within Thailand\u2019s existing legal framework and will not feature \u201canything that is illegal.\u201d<\/p>\n<p>The deputy prime minister said that the program aims to make digital transactions more accessible in \u201ctourism-focused cities\u201d and to remain competitive to avoid missing out on business opportunities.<\/p>\n<p>Foreign tourists will need to verify their identities before using cryptocurrencies to pay for goods and services. A clearinghouse will convert BTC transactions into Thai baht.<\/p>\n<p>To illustrate the program\u2019s utility, Pichai cited the example of refugees from the Russia-Ukraine war, who could use BTC to purchase property in Thailand instead of facing challenges in obtaining Thai baht.<\/p>\n<p><em><strong>Related: <\/strong><\/em><em><strong>HKMA Project Ensemble partners with Brazil, Thailand for tokenization<\/strong><\/em><\/p>\n<h2>Former Thailand PM crypto push<\/h2>\n<p>In December 2024, the former Prime Minister of Thailand, Thaksin Shinawatra, gave a lecture in which he urged the Thai government to study cryptocurrencies and push for sandbox experimentation.<\/p>\n<p>Shinawatra said Thailand should begin studying digital assets to keep ahead of the curve toward global digitization but not begin buying cryptocurrencies.<\/p>\n<p>He also highlighted potential challenges posed by the incoming Donald Trump administration in the United States, including possible trade tariffs and Trump\u2019s suggestion of using BTC to pay off US debt.<\/p>\n<p><em><strong>Related: <\/strong><\/em><em><strong>Thailand crypto market is shifting away from retail: Binance Thailand CEO<\/strong><\/em><\/p>\n<h2>Binance Thailand spots crypto market shift<\/h2>\n<p>Meanwhile, Nirun Fuwattananukul, the CEO of Binance Thailand, wrote an opinion piece in October 2024 discussing the regulatory move by the country\u2019s Securities and Exchange Commission.<\/p>\n<p>The CEO noted that the SEC of Thailand\u2019s proposed new regulations to expand the scope of funds to invest in digital assets is a push for legitimizing and adopting digital assets like cryptocurrencies.<\/p>\n<p>Fuwattananukul said the move\u2019s intention goes beyond simply legitimizing BTC; it is about creating a \u201cmature ecosystem where traditional finance and digital assets coexist.\u201d<\/p>\n<p><em><strong>Magazine: <\/strong><\/em><em><strong>How crypto laws are changing across the world in 2025<\/strong><\/em><\/p>\n<p>Check <span style=\"background: #FDFBAC; padding: 1px 4px;\">other news for today<\/span> and Please stand by..<\/p>\n<p>*********************************<\/p>\n<p>If one of the paying programs on our Monitor appeals to you, please support <em>EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n<p>EN web <strong>Support Chat<\/strong> | Hyips and Crypto questions \u2013 <strong><a style=\"color: #c03939; text-decoration: underline;\" href=\"http:\/\/emilynews.com\/chat\/hyips\/\">HyipChatEN<\/a><\/strong><\/p>\n<p>Telegram Chat for Crypto and Hyip reports: <strong><a href=\"https:\/\/telegram.me\/HyipChatEN\" target=\"_blank\" rel=\"noopener noreferrer\">@HyipChatEN<\/a><\/strong><\/p>\n<p>*********************************<\/p>\n<p>Be the first to get most important HYIP news everyday!<br \/>\nSimply Follow <a href=\"https:\/\/www.facebook.com\/EmilyNewsOnline\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline;\">EN Facebook<\/strong><\/a>, <a href=\"https:\/\/telegram.me\/CryptoHyipsEN\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"color: #c03939; text-decoration: underline;\">EN Telegram<\/strong><\/a>, <a href=\"https:\/\/twitter.com\/EmilyHyipNews\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline; font-size: 1.3em;\">EN Twitter<\/strong><\/a><br \/>\nor Subscribe to <strong><a style=\"color: #c03939; text-decoration: underline;\" href=\"https:\/\/feedburner.google.com\/fb\/a\/mailverify?uri=Emilynews\" target=\"_blank\" rel=\"noopener noreferrer\">EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n<p>If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n<p><a href=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2020\/11\/Reminder2-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13137\" src=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2020\/11\/Reminder2-1.jpg\" alt=\"\" width=\"544\" height=\"600\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thailand plans to trial cryptocurrency payments in Phuket, one of its most popular tourist destinations, as part of a pilot program offering foreign visitors an alternative payment option. Deputy Prime Minister and Finance Minister Pichai &hellip; <a title=\"Thailand to pilot cryptocurrency payments in Phuket\" class=\"exalt-read-more\" href=\"https:\/\/emilynews.com\/blog\/?p=52322\"><span class=\"screen-reader-text\">Thailand to pilot cryptocurrency payments in Phuket<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52327,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-52322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thailand to pilot cryptocurrency payments in Phuket - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52322\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand to pilot cryptocurrency payments in Phuket - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Thailand plans to trial cryptocurrency payments in Phuket, one of its most popular tourist destinations, as part of a pilot program offering foreign visitors an alternative payment option. 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