Former Prime Minister Pushes Crypto to Boost Thailand’s Economy

Former Prime Minister Pushes Crypto to Boost Thailand’s Economy
Share this:

Former Thai Prime Minister Thaksin Shinawatra has called on the government to focus on cryptocurrency reforms and introduce a tax on online gambling. He believes these changes could modernize Thailand’s economy and generate significant revenue.

Thaksin emphasized the need for Thailand’s Securities and Exchange Commission (SEC) to adopt progressive policies toward digital finance. He suggested allowing the trade of stablecoins (cryptocurrencies backed by real-world assets) and updating financial institutions to support the digital economy.

Thaksin’s push aligns with Thailand’s recent efforts, like introducing crypto payment trials in regions such as Phuket. Addressing concerns about risks, he reassured that cryptocurrencies could be treated as just another form of currency without additional danger.

To minimize risks, Thaksin suggested implementing controls like user monitoring systems and measures to prevent underage gambling. For instance, he proposed introducing a “passport” system to regulate who can participate, though he did not provide specific details.

Although Thaksin holds no official position, his proposals show his continued impact on Thai economic policies. Since returning to Thailand in 2023 after years in exile, he has focused on reforms like cryptocurrency adoption and online gambling to boost the country’s global competitiveness.

What You Should Know

Thailand already has a regulatory framework for digital assets, requiring crypto exchanges, brokers, and dealers to obtain licenses from the SEC. The government has also introduced tax incentives, such as exemptions on capital gains and VAT, to encourage growth in the crypto sector.


Discover more from DiutoCoinNews

Subscribe to get the latest posts sent to your email.

Leave a Comment

Comments

No comments yet. Why don’t you start the discussion?

    Leave a Reply

    Your email address will not be published. Required fields are marked *