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Phuket pioneers crypto payments for tourists

Thailand begins a trial allowing foreign visitors to pay with Bitcoin, converted to Thai baht

By Joanna BuenconsejoJan. 9th - 10am

1 min read

Phuket cityscape — Under the pilot project, foreign tourists must register their Bitcoin on a local crypto exchange and verify their identity before using it for payments. Photo: Unsplash / Max BVP

Thailand is taking a bold step toward integrating cryptocurrency into its tourism economy. Starting in Phuket, the government will launch a pilot program enabling foreign visitors to pay with Bitcoin, making the city a more attractive destination for tech-savvy travelers.

Announcing the plan, Deputy Prime Minister and Finance Minister Pichai Chunhavajira emphasized that the initiative aligns with Thailand’s existing legal frameworks, requiring no regulatory changes. Speaking at a seminar hosted by the Marketing Association of Thailand, he assured that the government has the necessary frameworks in place and that the project will fully comply with existing laws, requiring no regulatory changes.

Under the pilot project, foreign tourists must register their Bitcoin on a local crypto exchange and verify their identity before using it for payments. A clearing house will then convert the Bitcoin into Thai baht.

This forward-looking initiative reflects the rising global popularity of digital currencies and Thailand’s ambition to remain competitive in a rapidly digitizing world. Former Prime Minister Thaksin Shinawatra previously urged the government to embrace cryptocurrency and expand sandbox experiments. He highlighted the potential of digital assets to reshape the economy and stressed the importance of staying ahead in the global financial landscape.

The Securities and Exchange Commission (SEC) launched a regulatory sandbox for cryptocurrency experiments in August, laying the groundwork for projects like this. Shinawatra also proposed exploring stablecoins as a means of injecting innovation into the economy, though he cautioned against rushing into creating a crypto reserve.

“There are already many cryptocurrencies,” Shinawatra remarked in December. “Some people say that in the future, we will have more currencies than countries. Thai people must think and understand this today.”

As Thailand takes its first steps toward integrating cryptocurrencies into its tourism sector, Phuket’s trial could signal a new era of innovation in the nation’s economy.

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