Thailand plans to allow tourists, including from Russia, to use cryptocurrency for payment of goods and services. A pilot project will start in 2025 in Phuket and will later expand to other tourist regions. According to Deputy Prime Minister and Finance Minister Pichai Chunhavanich, the system will allow converting cryptocurrency, such as Bitcoin, into Thai Baht through licensed platforms. Tourists will need to undergo verification at local exchanges, after which payment will be made through credit cards, and sellers will receive funds in the national currency.
This initiative is particularly relevant for Russians who face restrictions from international payment systems due to sanctions. Cryptocurrency can simplify transactions, including even the purchase of real estate. There are already points accepting Bitcoin in Phuket, and the experience of the Kalasin region with 80 businesses clearly demonstrates the potential. The project is supported by the Bank of Thailand and the Securities Commission, aiming to make the country more attractive to foreigners.
Experts believe this could be a breakthrough for crypto tourism, although it requires clear regulation. Thailand hopes to attract more tourists and revive the economy after the pandemic.
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