#Phuket, Thailand will launch a cryptocurrency sandbox program.#
Hot Topic Overview
Overview
Thailand plans to launch its cryptocurrency sandbox program in Phuket this October, focusing on stablecoins to minimize risk while allowing for innovation. The sandbox will allow businesses and consumers to experiment with cryptocurrency transactions, particularly in the tourism industry. Former Prime Minister Thaksin Shinawatra said Thailand is more willing to promote cryptocurrency development than any other country in the region, stressing that cryptocurrency should not be confused with gambling but rather a new form of currency backed by assets such as gold or government bonds. Thailand will not accept high-risk cryptocurrencies, and the sandbox is expected to involve the private sector.
Ace Hot Topic Analysis
Analysis
Thailand plans to launch a cryptocurrency sandbox in Phuket in October this year, aiming to drive the country's crypto development, especially in tourism. The sandbox will focus on stablecoins to minimize risks while allowing for innovation. This will provide a controlled testing environment for businesses and consumers to experiment with crypto transactions. Former Thai Prime Minister Thaksin Shinawatra said that Thailand is more open to driving crypto development than any other country in the region, emphasizing that crypto should not be confused with gambling, but a new form of currency backed by assets like gold or government bonds. Thailand will not accept high-risk cryptocurrencies, and is expected to launch a cryptocurrency sandbox involving the private sector in October. The initiative has been welcomed by Gulf Binance CEO Nirun Fuwattananukul, who believes the sandbox approach provides a balanced framework for testing crypto adoption while maintaining regulatory oversight.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The Thai government plans to launch a cryptocurrency sandbox program in Phuket to promote the use of cryptocurrency in tourism.
The sandbox program will focus on stablecoins to reduce risks while allowing for innovation.
The Thai government hopes to test the application of cryptocurrency through the sandbox program and provide a controlled environment for its development in Thailand.
The Thai government believes that cryptocurrency is a new form of currency and should not be confused with gambling, and says it will not accept high-risk cryptocurrencies.