• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shinawatra: Legalizing Online Gambling and Stablecoins in Thailand

user avatar

by Giorgi Kostiuk

a year ago

Former Thai Prime Minister Thaksin Shinawatra suggested legalizing online gambling and stablecoins to enhance the country's tax revenue.

Influence on Thai Regulation

Although Shinawatra is not part of the current administration, he remains influential in Thailand's politics. His daughter, Paetongtarn Shinawatra, serves as the prime minister. Shinawatra claimed that the Thai government is losing nearly $4 billion in tax revenue due to illegal online gambling. To rectify this, he proposed legalizing the sector.

"Online gambling has two to four million Thai users with savings of 300 billion baht and gains and losses of about 500 billion per year. If we can tax 20% [...] we would get more than 100 billion per year."Thaksin Shinawatra

Recommendations on Cryptocurrencies and Stablecoins

Shinawatra also recommended that Thailand's Securities and Exchange Commission permit the trade of stablecoins and other non-speculative tokens. He noted that stable currencies could enhance economic integration and provide new opportunities for digital payments.

"There will be no risk; it is just another currency in the world."

Rising Interest in Digital Payments

In July 2024, Thailand distributed social benefits to 45 million citizens in digital form. Though the country's central bank completed a pilot retail CBDC project, there are no immediate plans for an official release.

Shinawatra's proposed initiatives could significantly increase state revenues and improve Thailand's economic situation.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

CFTC and SEC Join Forces to Regulate Crypto Markets

chest

The CFTC and SEC are collaborating on Project Crypto to create a unified regulatory framework for crypto markets, aiming to clarify jurisdictional boundaries and foster innovation in the U.S.

user avatarKofi Adjeman

Ethereum ETFs See Major Inflows as Market Recovers

chest

Ethereum-based ETFs recorded their best single-day performance in nearly two months, with inflows of $169 million on Wednesday, indicating a potential recovery trend for Ethereum and related investment products.

user avatarNguyen Van Long

SEC and CFTC Submit Proposals to Regulate Crypto and Prediction Markets

chest

This week, the SEC and CFTC have submitted proposals to the White House to regulate the crypto industry and prediction markets.

user avatarKofi Adjeman

Ethereum Hits One-Month High as Market Recovers

chest

Ethereum's price surged by 12% on Wednesday, reaching a one-month high of $2,199 before retracing.

user avatarKofi Adjeman

3iQ and Scotiabank Launch Dynamic Active MultiCrypto ETF

chest

3iQ, in collaboration with Scotiabank, has launched the Dynamic Active MultiCrypto ETF, allowing investors to access Bitcoin, Ether, Solana, and XRP through a single product listed on Cboe Canada.

user avatarSatoshi Nakamura

CLARITY Act Faces Uncertain Future Amid Banking Sector Opposition

chest

The long-anticipated CLARITY Act may not be signed into law in 2026 due to intensified opposition from the banking sector over stablecoin regulations.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.