Thailand Launches TouristDigiPay Program for Crypto to Baht Conversion
Thailand launched its “TouristDigiPay” pilot program aimed at enhancing tourism by enabling foreign visitors to convert crypto assets into Thai baht for local spending. Key details include:
- The program will run for 18 months under a regulatory sandbox monitored by multiple government bodies.
- Crypto exchanges will be conducted only through regulated platforms, allowing funds to be spent at various merchants nationwide.
- The initiative reflects a shift towards electronic payments and increased interest in digital assets among tourists.
- Participation requires compliance with Thailand's AML and KYC regulations.
- The program is not intended to promote crypto as a direct payment method.
Thailand has established itself as a leader in the crypto space, introducing policies that foster growth, including a capital gains tax exemption on crypto transactions until December 31, 2029. The SEC is also developing a tokenized securities trading system to enhance market efficiency and transparency.