Thailand Explores Bitcoin Pilot Project Proposed by Thaksin Shinawatra in Phuket, Aiming for $850K BTC to Boost Tourism

Dec 26, 2024, 12:32 PM

Thailand is exploring a Bitcoin pilot project in Phuket, proposed by former Prime Minister Thaksin Shinawatra, aimed at enhancing tourism in the region. The initiative has garnered support from the CEO of Binance Thailand, who sees potential in positioning Phuket as a hub for Bitcoin payments. However, the Bank of Thailand currently prohibits crypto payments, presenting a significant regulatory hurdle. The pilot project is intended to attract tech-savvy tourists and investors, with projections suggesting it could generate up to $850,000 in Bitcoin transactions. This initiative reflects a broader trend of balancing regulatory frameworks with the growing interest in cryptocurrency among policymakers and entrepreneurs.