Thailand Enacts Pilot Program Allowing Crypto Conversion to Baht for Tourists

Thailand is taking a bold step in digital finance by launching a pilot program allowing tourists to convert cryptocurrency into Thai baht. This initiative, dubbed ‘TouristDigiPay,’ aims to boost tourism spending and stimulate the economy. The 18-month program, overseen by key government bodies like the Ministry of Finance and the Securities and Exchange Commission (SEC), will cap conversions at 550,000 baht per visitor to prevent money laundering concerns. This move is expected to increase tourist expenditure by up to 10%. The program facilitates regulated crypto-to-fiat conversions for tourists, potentially injecting 175 billion baht into the Thai economy.