Visitors will be able to spend Bitcoin and other cryptocurrencies on goods and services
In 2025, the Thai government plans to launch a project enabling the use of cryptocurrencies to pay for goods and services in the tourism industry. This was reported by Money At Home on Monday, January 13, citing the news outlet Nation Thailand.
In particular, journalists referred to a statement made by the country’s Deputy Prime Minister, Pichai Chunhawachira, during a seminar organized by the Marketing Association of Thailand. The official stated that the government intends to implement cryptocurrency payments in several tourist-centric cities, allowing visitors to use their digital assets for purchases.
Users will first need to undergo KYC verification and register their funds on a local platform. During payment, Bitcoin or other cryptocurrencies will be automatically converted into Thai Baht.
The initiative will initially be tested in 2025 in the resort area of Phuket. According to the official, this step does not require additional legislative changes, which increases its potential, given that government initiatives in the crypto industry are still at an early stage.
Earlier, Money At Home reported that Meta shareholders suggested investing part of their funds in Bitcoin.
Meanwhile, the EU has introduced changes regarding instant payments in euros.
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