Former Thai PM Thaksin Shinawatra called on Thailand to intensify cryptocurrency studies to stay aligned with global trends.
Rise of Digital Assets
Addressing an audience at the Intercontinental Hotel in Hua Hin, Shinawatra highlighted the growing prominence of digital assets in the global economy. He noted that the number of cryptocurrencies might exceed countries and urged Thai citizens to comprehend the role of cryptocurrencies in the evolving global economy.
Thailand's Progress in Crypto Adoption
Thailand’s Securities and Exchange Commission (SEC) has already taken significant steps towards digital asset innovation. In 2024, the SEC introduced a crypto regulatory sandbox, enabling selected service providers to test financial technologies in a supportive environment. This move showcases the country's willingness to experiment with blockchain and crypto applications.
Global Bridges with Crypto Leaders
In October 2024, the Bank of Thailand partnered with the Hong Kong Monetary Authority on Project Ensemble to test tokenized cross-border settlements. This collaboration signifies Thailand’s ambition to become a digital finance leader through global partnerships.
Thailand continues to explore new regulatory approaches to grant mutual and private funds access to cryptocurrencies, balancing innovation and security.
