Thailand is launching a pilot program in Phuket to allow foreign tourists to use cryptocurrency for payments. The initiative aims to make digital payments easier and quicker for tourists, and it operates within Thailand's existing legal frameworks. The program includes identity verification through local exchanges and a clearing house to convert Bitcoin into Thai baht for merchants. Deputy Prime Minister Pichai Chunhavajira emphasized that the program complies with current regulations and is expected to capitalize on the growing global adoption and value of cryptocurrencies. Thailand is also working to attract crypto-savvy travelers, with Phuket becoming a hub for foreign nationals. Crypto exchange Binance sees Thailand as a key market due to its crypto-friendly regulations. However, safety concerns regarding cryptocurrency remain, as demonstrated by a recent violent robbery in Phuket related to a cryptocurrency dispute. Thailand already has a small but active crypto community, with a "Bitcoin town" in Kalasin's Huay Phueng district.



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