Catenaa, Tuesday, August 19, 2025- Thailand introduced its “TouristDigiPay” program Monday, enabling foreign visitors to convert cryptocurrencies into Thai baht for electronic payments nationwide.
The initiative, running under a regulatory sandbox, requires strict KYC and anti-money laundering checks, with monthly spending limits from 50,000 to 500,000 baht to prevent financial misuse.
The scheme targets tourism recovery, particularly after declines in Chinese visitor numbers, and involves the Finance Ministry, Securities and Exchange Commission, Anti-Money Laundering Office, and Ministry of Tourism and Sports.
Tourists must open accounts with SEC-regulated digital asset firms and Bank of Thailand-authorized e-money providers. Converted funds can only be used for QR code and other electronic payments, while direct cash withdrawals are prohibited.
This policy builds on Thailand’s broader crypto framework, including a five-year personal income tax exemption for digital asset gains from licensed platforms running through 2029.
Officials aim to attract foreign capital and stimulate digital asset activity while generating over 1 billion baht in indirect tax revenue.
Regulatory adjustments also include stricter listing requirements for local exchanges and the launch of government-backed G-tokens, enabling retail investors to purchase bonds using blockchain-based tokens.
Thailand’s system mirrors regional trends, following Bhutan’s nationwide crypto tourism program and France’s Riviera adoption of crypto payments for hotels, restaurants, and luxury retailers.
Authorities are encouraging awareness among stakeholders while monitoring money laundering risks, with ongoing efforts to expand access to small vendors and rural merchants through tokenized payment solutions and digital infrastructure.
