Thailand’s Crypto-Friendly Measures Boost Tourism Appeal
In an increasingly competitive global tourism landscape, especially amid a worldwide economic slowdown, experts believe that recently endorsed crypto-friendly policies could significantly enhance Thailand’s appeal to tech-savvy and high-spending travelers. These measures aim to integrate digital assets into the visitor experience, positioning Thailand as a forward-thinking destination.
Nirun Fuwattananukul, CEO of Gulf Binance, highlighted that the new crypto sandbox addresses several structural challenges within Thailand’s tourism industry while preparing it for the future. He emphasized that Thailand is set to become one of the world’s major tourist destinations that incorporate digital assets into the overall travel experience. This initiative stems from a collaborative effort between the Securities and Exchange Commission (SEC) and the Bank of Thailand to launch the crypto sandbox.
The SEC has initiated public hearings on the proposed digital asset regulatory sandbox, which would allow foreign tourists to convert digital assets into baht for use during their stay in Thailand. Under this proposal, tourists holding digital assets can exchange them for baht via licensed digital asset operators. The converted funds can then be used through e-money service providers to pay for goods and services across the country.
These services will operate within a controlled sandbox environment, monitored by the SEC, the central bank, the Anti-Money Laundering Office, and other regulatory agencies. Nirun explained that the sandbox enables tourists to make payments at roadside food stalls and high-end department stores, eliminating payment friction and making Thailand a more convenient destination.
Cryptocurrency holders typically have high incomes and significant disposable income. By catering to this market, Thailand can grow its tourism segment, focusing on experiences and services aligned with its strengths. The sandbox could also benefit the tourism industry in the long term, as digital assets become more mainstream globally. Thailand will already have the infrastructure and experience to serve this evolving market.
Broader Crypto Adoption
The success of this program could attract blockchain conferences, crypto businesses, and fintech companies to establish operations in Thailand, creating additional economic benefits beyond traditional tourism. However, relevant agencies must address possible risks by ensuring proper regulatory compliance, educating local merchants, and maintaining security standards.
Nirun believes Thailand has an opportunity to lead the world in demonstrating how traditional industries can embrace blockchain innovation. He noted that the crypto sandbox isn’t just about tourism recovery—it’s about positioning Thailand as a pioneer in the digital economy. Rather than forcing adoption through regulation, the sandbox creates natural use cases that demonstrate real value to both tourists and local businesses.
Foreign tourists using digital assets will experience the speed and convenience of crypto payments compared with traditional foreign exchange and international card fees. Thai merchants will benefit from increased spending from more foreign tourists with digital assets. Under the sandbox, all payments are standard PromptPay transactions, allowing merchants to receive baht seamlessly.
Merchants will gain greater knowledge about digital assets, learning about this growing asset class and its significance in the world financial system. This initiative will cement Thailand as a forward-looking and innovative nation, positioning it as a digital financial hub. The sandbox is only the beginning, a test to build a broader digital asset ecosystem in Thailand.
Against All Odds
Despite global trade uncertainty and geopolitical tensions, Bitcoin recently surged to a new all-time high of more than US$123,000, highlighting bullish sentiment in risk assets. Bitcoin has soared in tandem with the US equity markets, which also hit record highs, reflecting growing investor confidence following US President Donald Trump’s announcements.
Nirun explained that the administration’s push for business-friendly policies, along with increasing political pressure on the Federal Reserve to cut interest rates, has contributed to a weakening US dollar, supporting the rise in asset prices across the board, including Bitcoin. He also noted that regulatory developments in the US are increasingly favorable.
The passage of the Genius Act is a major milestone, as it legitimizes digital assets within the traditional financial system. This policy clarity encourages more institutional players to enter the market. Nirun observed that strong inflows into Bitcoin exchange-traded funds signal persistent institutional demand.
Looking forward, several risks could challenge Bitcoin’s momentum, mainly macroeconomic and geopolitical uncertainties. While markets have become more resilient to tariff headlines, the unpredictability of policy decisions from the Trump administration remains a concern. Any sudden or extreme moves could trigger volatility across all risk assets, including Bitcoin.
Another factor is the regulatory landscape, as recent US policy shifts have been favorable to digital assets, prompting investors to have high expectations. The real test will be whether these policies lead to tangible adoption and infrastructure support. If regulatory momentum stalls or reverses in major economies, it could dampen sentiment and slow institutional inflows.
Investor Incentive
Another crypto-friendly regulatory development is the Finance Ministry’s announcement regarding the exemption of capital gains taxes on cryptocurrency sales made through locally-licensed crypto asset service providers for a period of five years.
In the short term, the tax exemption is a strong incentive for investors, particularly those trading on global platforms, to return and trade on locally licensed exchanges. This not only brings capital back onshore but also enhances investor protection. Platforms such as Binance TH are required to comply with regulatory standards.
As more users transition to regulated local platforms, it will strengthen credibility and build confidence in Thailand’s digital asset ecosystem. The move reflects Thailand’s strategic intent to position itself as a forward-looking, innovation-driven economy. By embracing emerging technologies such as digital assets, the government is laying the foundation for Thailand to become a regional digital financial hub.
Nirun believes this tax policy is just the beginning. If followed by clearer regulations, better infrastructure, and investment in talent development, it could unlock long-term benefits for the Thai economy and reinforce leadership in the digital finance space.
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