Thailand is taking a step towards integrating cryptocurrencies into the tourism sector by launching the **TouristDigiPay** program. The initiative allows foreign tourists to convert cryptocurrencies such as $BTC and $ETH into Thai baht for electronic payments, particularly through QR codes. The program operates within a regulatory "sandbox" aimed at revitalizing tourism, which has been affected by a decline in visitors from China.
Tourists must open accounts with licensed providers of digital assets and electronic money regulated by the SEC and the Bank of Thailand. KYC and AML checks are mandatory to prevent financial crimes. The transaction limit is between 50,000 and 500,000 baht per month, and direct cash payments are prohibited. The program supports innovation while maintaining strict control and can serve as an example for other countries.
TouristDigiPay positions Thailand as a leader in combining blockchain technology with tourism, attracting tech-savvy travelers. The success of the initiative depends on the convenience of KYC processes and the readiness of local businesses for integration. Stay updated on crypto industry news from #MiningUpdates
#TouristDigiPay #CryptoTourism #ThailandCrypto #BlockchainTravel #DigitalPayments #CryptoAdoption #MiningUpdates