The Thai government is reportedly set to allow tourists to exchange crypto for Thai baht and make electronic payments through e-money service providers.
Thailand is reportedly planning a nationwide regulatory sandbox allowing foreign visitors to convert crypto into local currency for electronic payments in a bid to boost tourism.
Known as TouristDigiPay, the scheme is expected to go live on Monday and allow users to exchange cryptocurrencies for Thai baht and make electronic payments through e-money service providers, according to a report on Saturday from local newspaper The Nation.
Only tourists in Thailand will be eligible to use the service after undergoing Know Your Customer due diligence checks and opening an account with a digital asset business and an e-money provider regulated by the Bank of Thailand and the country’s Securities and Exchange Commission.
