Thailand is set to launch a cryptocurrency sandbox before the end of the year, with plans to locate it in Phuket. The former Prime Minister, Thaksin Shinawatra, believes this move will be a turning point for the country in the crypto industry. Shinawatra mentioned that Thailand has had extensive talks with other countries in the ASEAN region about injecting money into their economic systems through cryptocurrencies. He emphasized the need to leverage digital assets quickly to prevent the best minds from moving to more accommodating environments like the United States. The sandbox will include the private sector and aims to provide a controlled environment for regulators to monitor activities while benefiting businesses and individuals. The Thailand SEC may revise the ban on payments via crypto under stricter guidelines and implement a regulatory framework to ensure compliance.



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