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Thailand accelerates in Asia-Pacific crypto race.

Thailand accelerates in Asia-Pacific crypto race

The policy shift coincides with increasingly fierce competition to build digital asset hubs in the Asia-Pacific region. Similar supportive policies have also been rolled out in Singapore and Hong Kong.

Meanwhile, President-elect Donald Trump has said during his campaign that he wants to make the United States a global cryptocurrency hub.

Whether we like it or not, we have to adapt to the growing popularity of cryptocurrencies around the world,” Pornanong said in an interview at her office. “We need to regulate and make sure that investors have more options for digital assets, with appropriate protections.”

Binance and other digital asset companies are also looking to Thailand as a key growth market as the country eases restrictions. Thaksin Shinawatra, the de facto leader of the ruling Pheu Thai Party, is a crypto supporter and recently suggested that Thailand should consider issuing a government-backed stablecoin for both individual and institutional investors.#BTC $BTC