Thailand to Let Tourists Spend Crypto via Credit Card-Linked Platforms

Thailand is preparing to allow tourists to spend cryptocurrency during their stay, marking a significant move in the country’s digital finance transformation. Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the initiative during an investment seminar held in Bangkok on May 26, according to reports from the Bangkok Post and The Nation . The Ministry of Finance, in collaboration with the Bank of Thailand, is currently reviewing a system that would allow tourists to link their crypto wallets to credit cards, enabling seamless local purchases. Merchants would continue to receive payment in Thai baht, often unaware that the original payment was made in digital assets. “This approach can be immediately adapted for Thailand, provided the supporting systems are in place,” said Pichai. He noted that avoiding direct use of the Thai baht in these transactions reduces the risks associated with currency volatility. The pilot program is expected to roll out once key infrastructure and regulatory standards are finalized. Thailand Aims Crypto-Friendly Policies Thailand’s embrace of crypto spending is just one part of a broader strategy to reform its financial landscape. Pichai emphasized the need to modernize outdated financial regulations, particularly the separation between the traditional capital market and digital asset industries, which are currently governed by different sets of laws. A major part of this reform includes removing restrictive investment rules placed on institutional investors. Currently, life insurance firms and large funds are largely limited to holding government bonds. New regulations could allow them to diversify into equities and private sector assets, unlocking greater capital flow into the economy. Additionally, the Ministry of Finance is reviewing rules on treasury stocks and evaluating the impact of high-frequency trading. A draft law is also underway to expand the enforcement powers of the Thai Securities and Exchange Commission (SEC), giving it greater authority to act on significant cases. Long-Term Commitment to Digital Assets Pichai expressed strong support for digital innovation, noting the importance of clear regulations that protect financial stability while enabling growth. Among Thailand’s blockchain initiatives is the rollout of “G-Tokens,” which will allow retail investors to buy government bonds in fractional units using blockchain technology. Earlier this year, the Thai SEC approved Tether’s USDt and Circle’s USDC for trading on regulated platforms. These moves signal Thailand’s broader vision of integrating digital assets into both domestic finance and international investment opportunities. The post Thailand to Let Tourists Spend Crypto via Credit Card-Linked Platforms appeared first on TheCoinrise.com .

Source: The Coin Rise