Thailand Launches Cryptocurrency Payment Pilot in Phuket

According to Foresight News, Thailand's Deputy Prime Minister and Finance Minister, Pichai Chunhavajira, announced on Wednesday at a seminar organized by the Marketing Association of Thailand that the country will initiate a new cryptocurrency payment project. This initiative will begin in the popular tourist destination of Phuket, allowing foreign tourists to use digital assets for shopping in the city. The government's objective is to enable foreign visitors to utilize their digital assets for purchases in tourism-focused cities. Pichai Chunhavajira emphasized that the pilot program will adhere to the existing legal framework to ensure compliance with all laws. The Phuket trial will permit foreign tourists to register their Bitcoin through Thai exchanges, complete identity verification, and then use cryptocurrency to pay for goods and services.