Thailand plans to let tourists spend crypto via credit cards while shielding its currency, promoting safer blockchain adoption.
The Thai government aims to unify financial laws and expand institutional investment access to boost market efficiency and innovation.
Strict penalties target unregulated crypto platforms as Thailand prepares to issue $150M in blockchain-based government bond tokens.
Thailand has announced plans to integrate cryptocurrency into its mainstream economy, beginning with a system that lets tourists spend crypto via credit cards. Deputy Prime Minister and Finance Minister Pichai Chunhavajira revealed the initiative during a high-level seminar in Bangkok on May 26. The Ministry of Finance and the Bank of Thailand are jointly reviewing the proposal. If approved, tourists will soon link their crypto wallets to credit cards for local purchases. Merchants will receive payments in Thai baht, without knowing if crypto was used. This approach shields the domestic currency from direct crypto exposure. It also encourages crypto adoption through existing financial infrastructure.
Major Reforms in Capital Markets and Digital Assets
Besides introducing crypto for tourism, Thailand plans to unify its capital and digital asset markets under one legal framework. Currently, separate laws govern these sectors, creating inefficiencies and legal confusion. Pichai emphasized the need to streamline financial legislation. He added that current laws restrict institutional investors like life insurers and large funds. These groups are often limited to investing in government bonds. Hence, the government plans to open broader access to equities and private sector assets.
Moreover, Thailand aims to reform its treasury stock rules and improve fairness in local markets. The Ministry of Finance is reviewing high-frequency trading practices, seeking better oversight. A new draft law could soon expand the Thai SEC’s powers. It may allow the commission to directly bring serious financial cases to prosecutors. This change could strengthen regulatory enforcement and market integrity.
Crypto Crackdown and New Blockchain Bonds
Thailand is also tightening its grip on unregulated foreign crypto platforms. The Thai SEC has introduced strict penalties targeting illegal peer-to-peer crypto activity. Offenders may face up to three years in prison or fines up to 300,000 baht. These new rules aim to fight online financial crimes more effectively.
Additionally, the government is launching “G-Tokens,” a blockchain-based initiative allowing retail access to fractional government bonds. This innovation will help improve savings returns and elevate Thailand’s global debt market reputation. On May 13, the Finance Ministry confirmed plans to issue $150 million in digital bond tokens. Consequently, Thailand is rapidly transforming into a regional hub for regulated digital finance, balancing innovation with security.
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