Thailand is set to test cryptocurrency payments in Phuket, a popular tourist spot, as part of a pilot program offering foreign visitors an alternative payment method. Deputy Prime Minister and Finance Minister Pichai Chunhavajira revealed the initiative on Jan. 8 during a seminar organized by the Marketing Association of Thailand. The pilot will operate within existing legal frameworks without the need for law amendments. The program aims to integrate digital currency into daily transactions, allowing tourists to register Bitcoin through a Thai exchange and verify their identities before making purchases. Foreign tourists must verify their identities before using cryptocurrencies for transactions, which will be converted to Thai baht. The initiative seeks to make digital transactions more accessible in tourism-focused cities and stay competitive in the business landscape. The move aligns with former Prime Minister Thaksin Shinawatra's call for Thailand to study cryptocurrencies and engage in sandbox experimentation to stay ahead in global digitization trends. Read more AI-generated news on: https://app.chaingpt.org/news

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