Former Prime Minister of Thailand Thaksin Shinawatra recently urged the government to study cryptocurrencies as part of the global digitization trend.
Thaksin Shinawatra's speech
Thaksin Shinawatra emphasized that Thailand needs to study digital assets. He noted the global trend of increasing cryptocurrencies, suggesting that there may be more currencies than countries in the future. He stated: "Today, Thai people must think and understand this."
Thailand's digital economy experiments
In August 2024, Thailand's SEC launched a regulatory sandbox for experimenting with digital assets. These sandboxes allow companies to safely test new technologies under relaxed regulations.
Government and banking initiatives
In July 2024, the Pheu Thai party fulfilled a campaign promise to distribute digital cash to 45 million Thai residents. In September 2024, Kasikornbank became the first licensed crypto custodian in the country. In October 2024, the Bank of Thailand partnered with the Hong Kong Monetary Authority to test tokenized cross-border settlements.
Thailand is actively exploring and implementing digital technologies to stay aligned with global trends and improve economic stability.
