Thailand’s Former PM Advocates For Crypto Legalization, Suggests Using Bitcoin For Debt Settlement

Thailand’s Former PM Advocates For Crypto Legalization, Suggests Using Bitcoin For Debt Settlement

Thailand’s former Prime Minister, Thaksin Shinawatra, has expressed optimism concerning the potential of cryptocurrencies to revolutionize the monetary panorama in Thailand.  

In response to a 14 January 2025 Reuters report, Shinawatra made a push for Thailand’s monetary establishments to be extra open to cryptocurrency, citing incoming US President Donald Trump’s pro-crypto stance.

“Thailand’s SEC needs to have more digital approach,” Shinawatra

In response to native media reviews, Thaksin advised that Thailand ought to undertake international crypto tendencies, corresponding to utilizing Bitcoin for debt settlement and introducing Actual World Asset (RWA) tokenisation – buying and selling blockchain-based digital tokens representing tangible bodily belongings. 

He additionally unveiled plans for a cryptocurrency sandbox venture in Phuket, the place Bitcoin transactions could be state-managed to minimise dangers.

Moreover, Shinawatra insisted that the Thai SEC ought to have a extra digital method, like “like allowing trade of stablecoin, or coin that are backed by assets.” He additionally thinks that the appointment of Paul Atkins as the top of US Securities and Change Fee (SEC) is an excellent signal.

Atkins served as an SEC commissioner from 2002 to 2008, and his background aligns carefully with the cryptocurrency trade.

His biography on Patomak International Companions’ web site highlights his work with the Token Alliance, a crypto advocacy group, the place he has been concerned in creating greatest practices for digital asset issuances and buying and selling platforms since 2017.

Discover: Donald Trump Picks Crypto Ally Paul Atkins As Subsequent SEC Chair

Embracing Crypto Can Place Thailand As Regional Hub For Blockchain Growth

Shinawatra highlighted that blockchain know-how can be utilized as a device for enhancing transparency, lowering transaction prices, and fostering innovation throughout numerous sectors.

According to him, embracing cryptocurrency might place Thailand as a regional hub for blockchain improvement and digital finance.

Shinawatra’s feedback come at a time when cryptocurrency adoption is gaining momentum. He proposed implementing clear laws to guard traders whereas encouraging innovation. This consists of licensing crypto exchanges, establishing anti-money laundering (AML) protocols, and collaborating with worldwide organizations to make sure compliance with international requirements.

In reality, former Binance CEO Changpeng Zhao reposted this information on X.

Thailand Trials Bitcoin Funds In Tourism

Lately, the Thai authorities introduced a pilot venture permitting vacationers to make funds utilizing Bitcoin and different digital currencies in Phuket, one of many nation’s hottest locations.

In response to native media reviews, Deputy Prime Minister and Finance Minister Pichai Chunhavajira unveiled the plan throughout a seminar hosted by the Advertising and marketing Affiliation of Thailand.

The initiative goals to draw tech-savvy vacationers by providing seamless cost choices that eradicate the necessity for money or conventional banking techniques.

Discover: This Week In Crypto Asia: Thailand Trials Bitcoin Funds In Tourism, Whereas Indonesia Shifts Crypto Oversight To OJK

The publish Thailand’s Former PM Advocates For Crypto Legalization, Suggests Using Bitcoin For Debt Settlement appeared first on 99Bitcoins.

Supply hyperlink

bitcoin
Bitcoin (BTC) $ 97,075.01 0.00%
ethereum
Ethereum (ETH) $ 2,636.16 0.93%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.39 3.39%
solana
Solana (SOL) $ 201.93 2.10%
bnb
BNB (BNB) $ 607.59 0.68%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.249497 3.01%
cardano
Cardano (ADA) $ 0.691245 2.02%
staked-ether
Lido Staked Ether (STETH) $ 2,633.70 0.98%
tron
TRON (TRX) $ 0.232883 0.08%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,908.96 0.03%
chainlink
Chainlink (LINK) $ 18.55 0.67%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,139.60 1.28%
avalanche-2
Avalanche (AVAX) $ 25.14 0.56%
the-open-network
Toncoin (TON) $ 3.83 0.96%
sui
Sui (SUI) $ 3.10 0.66%
stellar
Stellar (XLM) $ 0.311486 6.42%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 2.91%
leo-token
LEO Token (LEO) $ 9.89 0.16%
hedera-hashgraph
Hedera (HBAR) $ 0.235905 1.64%
litecoin
Litecoin (LTC) $ 113.54 6.10%
usds
USDS (USDS) $ 1.00 0.00%
hyperliquid
Hyperliquid (HYPE) $ 23.43 1.34%
bitget-token
Bitget Token (BGB) $ 6.34 2.10%
weth
WETH (WETH) $ 2,634.77 1.00%
polkadot
Polkadot (DOT) $ 4.79 0.75%
bitcoin-cash
Bitcoin Cash (BCH) $ 326.94 0.25%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
mantra-dao
MANTRA (OM) $ 6.11 0.18%
uniswap
Uniswap (UNI) $ 9.15 0.40%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,788.41 1.21%
ondo-finance
Ondo (ONDO) $ 1.32 3.58%
monero
Monero (XMR) $ 224.75 3.91%
pepe
Pepe (PEPE) $ 0.00001 0.62%
whitebit
WhiteBIT Coin (WBT) $ 27.41 0.66%
near
NEAR Protocol (NEAR) $ 3.18 6.04%
aave
Aave (AAVE) $ 247.13 0.13%
dai
Dai (DAI) $ 0.999913 0.02%
aptos
Aptos (APT) $ 6.07 2.95%
mantle
Mantle (MNT) $ 1.02 3.70%
internet-computer
Internet Computer (ICP) $ 7.02 0.58%
susds
sUSDS (SUSDS) $ 1.03 0.02%
official-trump
Official Trump (TRUMP) $ 15.55 11.86%
bittensor
Bittensor (TAO) $ 376.17 2.99%
ethereum-classic
Ethereum Classic (ETC) $ 20.32 0.24%
okb
OKB (OKB) $ 48.08 1.02%
gatechain-token
Gate (GT) $ 21.40 1.13%
vechain
VeChain (VET) $ 0.032434 2.24%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.304653 2.72%
crypto-com-chain
Cronos (CRO) $ 0.092865 3.01%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 96,991.99 0.07%
algorand
Algorand (ALGO) $ 0.281462 0.20%
kaspa
Kaspa (KAS) $ 0.087583 0.47%
render-token
Render (RENDER) $ 4.34 0.03%
tokenize-xchange
Tokenize Xchange (TKX) $ 27.99 0.95%
jupiter-exchange-solana
Jupiter (JUP) $ 0.823505 6.14%
filecoin
Filecoin (FIL) $ 3.34 0.21%
first-digital-usd
First Digital USD (FDUSD) $ 0.998283 0.10%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.782669 4.52%
cosmos
Cosmos Hub (ATOM) $ 4.61 1.32%
arbitrum
Arbitrum (ARB) $ 0.457024 0.47%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 96,954.98 0.79%
fasttoken
Fasttoken (FTN) $ 3.93 0.03%
celestia
Celestia (TIA) $ 3.15 1.14%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 208.19 2.29%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,639.21 1.31%
ethena
Ethena (ENA) $ 0.486617 6.29%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,722.35 1.17%
solv-btc
Solv Protocol SolvBTC (SOLVBTC) $ 96,856.95 0.36%
kucoin-shares
KuCoin (KCS) $ 12.05 1.23%
optimism
Optimism (OP) $ 1.09 1.47%
xdce-crowd-sale
XDC Network (XDC) $ 0.091311 2.06%
injective-protocol
Injective (INJ) $ 14.55 3.46%
immutable-x
Immutable (IMX) $ 0.813236 1.69%
blockstack
Stacks (STX) $ 0.921313 1.27%
lido-dao
Lido DAO (LDO) $ 1.52 2.90%
raydium
Raydium (RAY) $ 4.65 10.72%
bonk
Bonk (BONK) $ 0.000017 5.44%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,959.19 0.88%
theta-token
Theta Network (THETA) $ 1.32 1.79%
nexo
NEXO (NEXO) $ 1.30 1.47%
sonic-3
Sonic (prev. FTM) (S) $ 0.409996 0.44%
the-graph
The Graph (GRT) $ 0.133385 0.42%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,783.39 0.88%
movement
Movement (MOVE) $ 0.522678 6.18%
worldcoin-wld
Worldcoin (WLD) $ 1.24 1.33%
flare-networks
Flare (FLR) $ 0.020942 4.64%
usual-usd
Usual USD (USD0) $ 0.997562 0.02%
dexe
DeXe (DEXE) $ 19.25 12.69%
jasmycoin
JasmyCoin (JASMY) $ 0.022449 1.05%
solv-protocol-solvbtc-bbn
Solv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 95,769.66 0.47%
msol
Marinade Staked SOL (MSOL) $ 255.24 2.19%
sei-network
Sei (SEI) $ 0.227932 0.97%
gala
GALA (GALA) $ 0.022296 0.96%
eos
EOS (EOS) $ 0.618202 0.43%
the-sandbox
The Sandbox (SAND) $ 0.380957 2.64%
tezos
Tezos (XTZ) $ 0.882506 1.56%
floki
FLOKI (FLOKI) $ 0.000094 1.04%
bittorrent
BitTorrent (BTT) $ 0.00000085867906 1.14%
Scroll to Top