Thailand plans to allow tourists to make purchases using cryptocurrency

ChainCatcher news, according to Cointelegraph, Thailand's Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced at an investment seminar in Bangkok that Thailand is preparing to allow tourists to use cryptocurrencies for spending through credit card-linked platforms. The plan is currently under review by the Ministry of Finance and the Bank of Thailand.

Under the plan, tourists can link their cryptocurrency holdings to credit cards for local spending, and merchants will receive Thai baht as usual, typically unaware that the transaction involves cryptocurrency. In addition, Thailand also plans to unify the legal framework for traditional capital markets and the digital asset sector, and will launch a blockchain-based "G-Tokens" program, allowing retail investors to purchase fractional units of government bonds.