Thailand Plans October Launch For Cryptocurrency Sandbox In Phuket

According to PANews, former Thai Prime Minister Thaksin Shinawatra announced that a cryptocurrency sandbox is expected to be launched in Phuket by October. During discussions on the ASEAN economy, Thaksin highlighted Thailand's proactive stance on cryptocurrency development compared to other countries in the region, especially following U.S. President-elect Donald Trump's plans to adopt cryptocurrencies. He noted that other ASEAN nations are also eager to engage with Thailand on cryptocurrency discussions, viewing it as an opportunity to inject funds into the economic system. When questioned about his recent comments on inviting ASEAN countries for talks on the matter, Thaksin confirmed that such discussions are underway. He emphasized the need for swift adoption of cryptocurrencies to prevent the migration of top talent to the United States. Thaksin clarified that cryptocurrencies should not be confused with gambling, describing them as a new form of currency backed by assets like gold or government bonds, known as 'stablecoins,' which carry less risk than other currencies. He stated that Thailand will not accept high-risk cryptocurrencies and anticipates the launch of a cryptocurrency sandbox involving the private sector in October.