Thailand is now thinking about using cryptocurrency in a safe and controlled way, especially for certain services and investments. Finance Minister Pichai Chunhavajira shared these ideas at an investment meeting on Monday.
Crypto Services Under Control
Right now, Thailand does not allow crypto for payments or link it to credit cards, like some other countries do. But the finance minister said they may study how crypto can work with Thailand’s financial system in the future.
He explained that in other countries, crypto can be used for shopping, but companies change crypto into local money through platforms like Bitcoin exchanges so that businesses still get paid in normal currency. Thailand may explore this idea but will only allow it if there are strong rules to protect the system.
Chunhavajira also said many people who invest in crypto in Thailand also invest in the stock market. These areas are both controlled under Thai law, including the Digital Assets Law and the Securities and Exchange Act.
Government Bonds on Blockchain
The minister also talked about G-Tokens, which are blockchain-based pieces of Thai government bonds. These tokens can be bought in very small amounts (as small as six decimal places). This makes it easier for everyday people to invest in bonds, which can pay better interest than savings accounts.
This G-Token project also hopes to make Thai bonds more popular around the world.
Future Plans
He also said there may be new changes to investment rules and how much power the Securities and Exchange Commission has. But the main focus of his speech was on digital assets and how blockchain can help modernize the financial system.
Disclaimer: This article is
for information only and not financial advice.
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