Binance Thailand supports Phuket's Bitcoin payment sandbox initiative
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Binance Thailand supports Phuket's Bitcoin payment sandbox initiative
According to Bangkok Post, Gulf Binance CEO Nirun Fuwattananukul expressed support for former Thai Prime Minister Thaksin's proposal to establish a bitcoin payment sandbox in Phuket. Nirun noted that the initiative would enhance Thailand's competitiveness in the digital asset sector and help attract tech-savvy tourists and investors. However, he emphasized that due to Thailand's restricted monetary system, the plan would require thorough risk assessment and regulatory coordination by the Bank of Thailand (BoT) and the Securities and Exchange Commission (SEC). Currently, the Bank of Thailand still prohibits the use of cryptocurrencies such as bitcoin as a means of payment.
Navigating Web3 tides with focused insightsTechFlow news, according to bangkokpost, Gulf Binance CEO Nirun Fuwattananukul expressed support for former Thai Prime Minister Thaksin's proposal to establish a bitcoin payment sandbox in Phuket.
Nirun noted that the initiative would enhance Thailand's competitiveness in the digital asset sector and help attract tech-savvy tourists and investors. However, he emphasized that due to Thailand's restricted currency regime, the plan requires thorough risk assessment and regulatory coordination between the Bank of Thailand (BoT) and the Securities and Exchange Commission (SEC). Currently, the Thai central bank still prohibits the use of cryptocurrencies such as bitcoin as a payment method.
