Thailand has announced a pilot program to enable cryptocurrency payments in Phuket, aimed at boosting digital transactions for tourists. The initiative, revealed by Finance Minister Pichai Chunhavajira, will operate within the current legal framework, eliminating the need for new legislation.

Tourists can register their Bitcoin with a Thai exchange and verify their identities to make purchases. A clearinghouse will convert Bitcoin payments into Thai baht to ensure smooth transactions. The pilot is set to target high-spending tourists, particularly in popular destinations like Phuket, with plans to expand to other regions.

Pichai highlighted the growing use of cryptocurrency by international visitors, citing cases where refugees from the Russia-Ukraine conflict used Bitcoin to purchase properties in Thailand. This move positions the country as a forward-thinking destination, leveraging digital payment systems to enhance the tourism experience and attract global travelers. Show Less