Thai Prime Minister Paetongtarn Shinawatra has announced the government’s decision to allow the use of payment products and services through digital assets in storage areas in Phuket, a popular island destination in the country.
Thai Prime Minister Paetongtarn Shinawatra at a recent press conference (Photo: VNA)
Hanoi (VNA) - Thai Prime Minister Paetongtarn Shinawatra has announced the government’s decision to allow the use of payment products and services through digital assets in storage areas in Phuket, a popular island destination in the country.
Shinawatra said the Thai government plans to use the initiative to target foreigners. The PM believes using digital assets will make it easier for the identified category of foreigners to adapt to their lifestyles, according to news site coinedition.com.
Finance Minister Chunhavajira announced that the programme would roll out later this year. While acknowledging existing unsupervised systems for digital assets, he emphasised the government’s commitment to harmonising and regulating these platforms for smooth implementation.
Chunhavajira highlighted the government’s determination to follow up plans and ensure digital assets become part of Phuket’s financial ecosystem.
Thailand’s move aligns with broader plans for crypto adoption, including a crypto sandbox programme centred on stablecoins. The sandbox aims to mitigate risks while fostering innovation by enabling businesses and consumers to experiment with crypto transactions.
The pilot programme in Phuket is expected to support the tourism sector, making it easier for businesses and visitors to lever👍age digital assets securely and efficiently./.
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Thai Prime Minister Paetongtarn Shinawatra has announced that Phuket will be elevated to a premium tourism destination as efforts are underway to resolve various challenges facing the island province.
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