New York, Tuesday, October 22, 2024 – Thailand is positioning itself to become a key player in the global cryptocurrency market, as digital assets continue to gain mainstream traction.
The Thai Digital Asset Association announced that with the right strategic policies and clearer regulations, the country has the potential to establish itself as a regional digital asset hub.
At a recent crypto roundtable, association president Nares Laopannarai emphasized that 2024 has seen unprecedented regulatory clarity and institutional involvement in the crypto market, with regions like Hong Kong, Singapore, and Dubai leading the way.
Thailand is shifting towards a more supportive stance on digital assets, aiming to balance traditional finance with emerging blockchain technologies.
Nares pointed out that promoting utility tokens and integrating ESG initiatives could boost the digital economy and Thailand’s competitiveness in the region.
Binance TH’s chief executive, Nirun Fuwattananukul, echoed these sentiments, noting that 2024 has been pivotal for cryptocurrency adoption globally, with countries like Russia legalizing Bitcoin mining and smaller nations such as El Salvador and Bhutan accumulating Bitcoin.
Bitcoin’s resilience amid fluctuating markets has solidified its reputation as a stable store of value, according to Bitcoin advocate Piriya Sambandaraksa.
While the cryptocurrency market remains volatile, Bitcoin’s consistency is reinforcing its position as a long-term digital financial asset.
Udomsak Rakwongwan, co-founder of FWX, a decentralized derivatives platform, highlighted the importance of the Bitcoin halving event and improved global liquidity as key drivers of market growth this year.
