Thailand is planning to allow tourists to spend cryptocurrency via credit card – linked platforms, as part of a broader strategy to modernize its financial system and embrace digital assets. Here are the details:
Allowing Crypto Spending for Tourists
Announcement and Implementation Plan: Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the plan at an investment seminar in Bangkok on May 26. The initiative, currently under review by the Ministry of Finance and the Bank of Thailand, aims to enable tourists to link their crypto holdings to credit cards for local purchases. After key infrastructure and regulatory checks are completed, tourists will be able to use this payment method. Merchants will receive Thai baht as usual, usually without knowing that crypto was used in the transaction.
Reasons for the Pilot: Thailand intends to take advantage of the recovery of its tourism industry, expecting the number of tourists in 2025 to reach 39.8 million, higher than that in 2024. Allowing tourists to use crypto – credit cards can provide them with a more convenient payment option and help solve the problem of large – value payments. Moreover, this can enhance the competitiveness of tourist cities in the global digital market.
Regulatory Reform Plans
Unifying the Legal Treatment of Capital Markets and Digital Assets: Currently, the traditional capital market and the digital asset space in Thailand are governed by separate acts. The government plans to unify their legal treatment to create a more unified and coordinated regulatory environment.
Reforming Restrictions on Institutional Investors: The government is reviewing outdated restrictions on institutional investors. Life insurers and large funds holding hundreds of billions of Thai baht are currently restricted to government bonds. Upcoming changes may open more funds to equities and private – sector assets, promoting the flow of funds and the development of the capital market.
Reforming Rules on Treasury Stocks and Regulating High – Frequency Trading: The Ministry of Finance is looking to reform rules around treasury stocks and ensure fairer market operations by regulating high – frequency trading practices, aiming to maintain market order and fairness.
Expanding the Enforcement Powers of the SEC: A draft law is being prepared to expand the enforcement powers of the Thai Securities and Exchange Commission, potentially allowing it to bring major cases directly to prosecutors, strengthening the regulatory enforcement capabilities.
In addition, Thailand has previously taken some steps in the digital asset space. For example, in March 2025, the Thai SEC approved Tether’s USDT and Circle’s USDC for cryptocurrency trades, allowing these stablecoins to be listed on regulated exchanges across the country. Also, the Ministry of Finance has announced plans to issue digital investment tokens to allow retail investors to buy government bonds.
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