Thailand is reportedly considering licensing its first Bitcoin (BTC)-based Exchange-Traded Fund (ETF), as part of efforts to make the country a digital asset hub in the Asia-Pacific region.
Secretary-General of Thailand's Securities and Exchange Commission (SEC) Pornanong Budsaratragoon said both individuals and institutions may be given investment access to local Bitcoin ETFs.
It is known that currently, Thailand already has a fund-of-funds product from One Asset Management which was launched in June 2024. The product offers exposure to overseas Bitcoin ETFs, but until now there has been no regulation that allows direct investment in cryptocurrencies.

It is also planned to open crypto payments in holiday resorts in the country, especially in Phuket. In addition, stablecoins that will be supported by government loans are coming.
Thailand, one of the 10 largest economies in Asia, is preparing to take ambitious steps in the crypto world. According to the news from the US media Bloomberg; The country's Securities and Exchange Commission (SEC) is considering approving Bitcoin #ETF applications first. Bitcoin ETFs, which are currently widely traded abroad in Thailand, are open to investors, but local ETFs have not yet been approved by the regulator.
Tourism will also benefit from crypto
Tourism, which has a critical structure for the Thai economy, will also benefit from cryptocurrencies. It was known that a significant portion of foreign exchange revenues were obtained from tourism. In the first stage, they will be able to make payments with Bitcoin and other cryptocurrencies by launching an application in the famous Phuket region. In this way, currency exchange transactions will literally become history and payments will become easier.
Regulated stablecoins are also coming
Due to the rapidly increasing use of stablecoins all over the world, the Thai government remained indifferent to this issue. It was stated that the issuance of stablecoins by Thai government debts is also being considered. In this way, cryptocurrencies will start to have an important place in the economy of this great country in Asia and will even be included in the normal analysis of life.
Crypto breakthrough from Asia's great economies: ETFs, stablecoins and payments are coming.
#thailand #AltcoinBoom #MicroStrategyAcquiresBTC #CryptoETFNextWave @CZ

Law enforcement in Thailand’s Chon Buri province recently seized nearly 1,000 bitcoin mining rigs from a company accused of illegally accessing electricity.

Modified Meters Used to Aid Electricity Theft
On Jan. 8, law enforcement agents in Thailand’s Chon Buri province seized nearly 1,000 bitcoin mining rigs from a company accused of illegally accessing electricity from the national grid. Montree Theskhan, commander of the Crime Suppression Division (CSD) of the Royal Thai Police, said the accused company was using modified meters to run the mining rigs.
According to a report in the Bangkok Post, the compound where the company operated had solar panels installed that were not connected to the mining rigs. A different report said officials from the Provincial Electricity Authority (PEA) estimate the losses incurred by electricity providers at around $3.2 million (110 million baht). However, another report suggested that the losses were much higher.
The seizure of the mining rigs followed a CSD investigation into what officials referred to as a suspicious company that claimed to be in the business of trading digital currencies. After uncovering incriminating evidence, CSD officers subsequently obtained a warrant to search the company’s premises.
During the early morning raid, about 996 bitcoin mining rigs were found, along with four computers, three routers, and one electric meter with “traces of alteration to steal electricity.” The seized equipment was subsequently transferred to the CSD, while PEA officials are reported to have filed a complaint to prosecute the accused company.
“This kind of theft not only costs the economy millions but also strains the electricity supply,” an unidentified official reportedly said.
While the Thai government’s position on cryptocurrencies and blockchain has evolved over the years, it is reportedly less enthusiastic about Bitcoin mining. In addition, the Thai Revenue Department considers mining analogous to manufacturing operations, making it subject to taxation under Section 40(8) of the Revenue Code.
#binance #wendy #bitcoin #thailand $BTC

Thailand plans to pilot crypto payments in Phuket, making it easy for tourists to pay for goods and services using digital assets.

Tourists Will Soon Be Able to Pay for Goods and Services in Bitcoin
Pichai Chunhavajira, Thailand’s Deputy Prime Minister declared on Wednesday, Jan. 8 at a seminar organized by the Thailand Marketing Association that the nation will begin a new crypto payment initiative. The crypto payment initiative will begin in Phuket, a well-known tourist destination and tourists will be able to shop using digital assets.
Pichai added that to prevent any legal infractions, the pilot program will adhere to the current legal framework. Foreign visitors will be able to register their bitcoin through Thai exchanges, undergo identity verification, and use their crypto to pay for goods and services in Phuket as part of the pilot program. The bitcoin would then be exchanged for Thai baht by a clearing house.
The Phuket trial will require no amendment to the current laws and will guarantee Thailand’s competitiveness in the global economy with the idea motivated by the growing value of cryptocurrencies and their appeal to international travelers.
The usage of digital currency in daily life has already been adopted by a small, crypto-savvy population in the country. Thailand’s “bitcoin town” is a community in Kalasin’s Huai Phueng district, according to Right Shift, a Youtube channel that encourages bitcoin adoption with over 80 locals accepting Satoshi via the Bitcoin Lightning app, enabling tourists and villagers to make cashless transactions.
#binance #wendy #bitcoin #thailand $BTC $ETH $BNB

🚨The Prime Minister of Thailand, Prayut Chan-o-cha, has just revealed his personal assets, totaling up to 400 million dollars! 💰🇹🇭

This revelation comes amid increasing discussions about transparency and accountability in government leadership. Prayut, who has led Thailand since 2014, disclosed his entire asset portfolio as part of a mandatory declaration required by Thai law for public officials. 📝✨