TechFlow reports, on May 27, according to Cointelegraph, Thailand's Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced at an investment seminar in Bangkok that Thailand is preparing to allow tourists to use cryptocurrency for spending via platforms linked to credit cards. The plan is currently under review by the Ministry of Finance and the Bank of Thailand.
Under the plan, tourists could link their cryptocurrency holdings to credit cards for local spending, while merchants would receive Thai baht as usual and typically wouldn't know the transaction involved cryptocurrency. Additionally, Thailand plans to harmonize the legal frameworks between traditional capital markets and digital assets, and will launch a blockchain-based "G-Tokens" initiative, allowing retail investors to purchase fractional units of government bonds.
