News 
Coin Information 
About us 
Former Prime Minister Thaksin Shinawatra stressed the importance of cryptocurrency research and sandbox experimentation for Thailand. He warned that global digitization, coupled with U.S. economic policies, demands swift action to secure the nation’s financial future.
Thailand Urged to Embrace Crypto Research for Global Relevance
Thaksin Shinawatra, Thailand's former prime minister, recently spoke at the Intercontinental Hotel in Hua Hin. In his speech, Shinawatra asked the Thai government to research cryptocurrencies and keep conducting sandbox experiments so that the country can maintain its worldwide relevance.
A report from Money and Banking Online states that the former prime minister of Thailand encouraged research into digital assets rather than the purchase of cryptocurrencies, citing the current worldwide trend toward digitization. The previous prime minister stated in a translated statement:
"There are already many cryptocurrencies. Some people say that in the future, we will have more currencies than countries. Today, Thai people must think and understand this."
Aside from Trump's plan to pay off the national debt with Bitcoin and the impending trade tariffs imposed by the incoming Trump government, Shinawarta cited other reasons to investigate and comprehend the digital economy.
Crypto Regulatory Sandboxes: A Safe Space for Innovation
To allow some service providers to test the waters with digital assets, the Securities and Exchange Commission (SEC) of Thailand launched a crypto regulatory sandbox in August 2024.
Regulatory sandboxes allow companies to test out new financial technology in a safe setting, away from the scrutiny of state regulators.
In July 2024, the Pheu Thai political party actually distributed digital currency to 45 million Thai residents, as promised during their campaign, to stimulate the economy. The party's program offered 10,000 baht, or about $280, to those who met the requirements, Cointelegraph shares.
Kasikornbank's Crypto Custody Signals Market Evolution
In September 2024, the second-largest bank in Thailand, Kasikornbank, became the first licensed crypto custodian in the country. Businesses dealing in digital assets were the target audience for the custodial services.
A proposal to open crypto investments to private and mutual funds was also put forward by Thailand's SEC on October 9. President and CEO of Binance Thailand, Nirun Fuwattananukul, stated that the plan is moving the Thai cryptocurrency market closer to institutional use of cryptocurrencies.
Thailand-Hong Kong Collaboration on Tokenized Settlements
As part of the HKMA's Project Ensemble, the Bank of Thailand and the Hong Kong Monetary Authority (HKMA) collaborated in October 2024 to conduct tests of tokenized cross-border settlements.
Comment 0