ThailandHe announced his ambitious plan that includes crypto currencies in daily expenses to revive tourism. Thai Finance Minister and Deputy Prime Minister Pichai ChunhavajiraIn the investment seminar in Bangkok, foreign visitors announced that they can spend a practical baht in a practical way by connecting crypto currency balances to their credit cards. The cashiers will only take fortune, but payment will actually take place with crypto currency. Thus, the tourist economy will be kept alive without increasing the pressure on the local currency.
Crypto money period officially begins in tourist expenditures
The Thai administration is in the hands of millions of guests crypto currencyIt aims to increase tourism income by encouraging it to spend. The model is quite simple. The visitor connects the crypto currency wallet with a single touch in the application of the card provider and results in Baht payment terminal. Since the POS device does not see the conversion in the background, businesses are not affected by exchange rate fluctuations. The government announced that they can quickly establish the compatible infrastructure, and the regulatory details are in the last touches.
The main advantage of the project is that it eliminates long queues and risk of cash in front of the exchange offices. According to Pichai, crypto currency volatility will not disrupt the stability of baht thanks to the instant conversion mechanism. Moreover, transparency will be increased as it narrows the informal expenditure areas. Tourism authorities are waiting to start trial sales in pilot regions in summer. In the first place Bangkok Shopping centers and Phuket holiday villages will be covered.
The application has aroused curiosity on a global scale. Especially Chinese and European digital nomads find it attractive to pay with crypto currency in their wallets from daily coffee costs to stay. Hotel chains have already started to update loyalty programs with their new wallet integrations. Local Fintech Start-ups are also working on innovations that will reduce the commission in the crypto currency-garden cycle.
Financial Reforms and New ‘G-CoKen’ Road Map
Thailand, Crypto Money TourismIn parallel, it plans to write the capital market laws from the beginning. The current legislation keeps the securities and crypto currencies in separate lanes. This imprisones big players such as insurance funds to government bonds. The draft package will modernize the rules of risk management and open the door of shares and private assets to these institutional funds. Pichai to strengthen the regulator’s hand Thailand Menkul Assets CommissionHe said that the prosecutor’s office would be granted directly to the prosecutor’s office.
Another part of the reform agenda “G-Coken“Initiative. Treasury, State Debt Securities Blockchain It will divide it into small pieces and present it to the individual investor. Citizen, mobile application for 100 baht micro bonds will be able to get, token will change the hands of the whole record will be kept in Blockchain.
The government has previously been on crypto currency exchanges USDT And USDC He approved his transactions and showed that he gave confidence to the technological infrastructure. With the new G-CoKen plan, securities for corporate investors are at the door.
This wind brings along topics such as additional control to high frequency transactions, reimbursement rules stretched in treasury shares and faster sanction against market manipulation. Pichai underlined that Thailand wants to make it permanent with the innovative financial architecture that combined with a solid regulation of the “crypto money -friendly” identity. Analysts say Bangkok can turn into a regional crypto currency financial base if the regulations are enacted.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
