Pichai Chunhavajira, Thailand’s Deputy Prime Minister declared on Wednesday, Jan. 8 at a seminar organized by the Thailand Marketing Association that the nation will begin a new crypto payment initiative. The crypto payment initiative will begin in Phuket, a well-known tourist destination and tourists will be able to shop using digital assets.

Pichai added that to prevent any legal infractions, the pilot program will adhere to the current legal framework. Foreign visitors will be able to register their bitcoin through Thai exchanges, undergo identity verification, and use their crypto to pay for goods and services in Phuket as part of the pilot program. The bitcoin would then be exchanged for Thai baht by a clearing house.

The Phuket trial will require no amendment to the current laws and will guarantee Thailand’s competitiveness in the global economy with the idea motivated by the growing value of cryptocurrencies and their appeal to international travelers.

The usage of digital currency in daily life has already been adopted by a small, crypto-savvy population in the country. Thailand’s “bitcoin town” is a community in Kalasin’s Huai Phueng district, according to Right Shift, a Youtube channel that encourages bitcoin adoption with over 80 locals accepting Satoshi via the Bitcoin Lightning app, enabling tourists and villagers to make cashless transactions.

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