Thailand to Allow Crypto Spending for Tourists, Launches Regulatory Overhaul

Thailand is set to become one of the world’s most crypto-friendly tourist destinations, with plans to allow foreign visitors to spend cryptocurrencies via credit card-linked platforms. The initiative, announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira on May 26, 2025, is part of a broader strategy to modernize Thailand’s financial system and attract tech-savvy international travelers.

How the Crypto Spending System Will Work

• Crypto-Linked Credit Cards:
  Tourists will be able to link their crypto holdings to credit cards, enabling them to pay for goods and services across Thailand. Merchants will receive Thai baht as usual, often without even knowing that the payment originated in crypto.
• No Impact on Thai Baht:
  The system is designed so that crypto is converted to baht behind the scenes, minimizing risks to the domestic currency and ensuring monetary stability.
• Pilot Program:
  The scheme is currently under review by the Ministry of Finance and the Bank of Thailand. A pilot rollout is expected once infrastructure and regulatory checks are completed.
• Tourism Boost:
  The initiative aims to enhance the tourist experience, making it easier for visitors to transact while supporting Thailand’s post-pandemic economic recovery.

Regulatory Reform and Capital Market Modernization

• Unified Legal Framework:
  Thailand plans to overhaul its financial laws to unify the regulation of traditional capital markets and digital assets, which are currently governed by separate acts.
• Expanded Investment Opportunities:
  The government is reviewing restrictions on institutional investors, such as life insurers and large funds, which are currently limited to government bonds. Reforms may allow these entities to invest more broadly in equities and private sector assets.
• Modernized SEC Role:
  A draft law is in progress to expand the Thai Securities and Exchange Commission’s enforcement powers, allowing it to bring major cases directly to prosecutors and better regulate both traditional and digital markets.
• Investor Convenience:
  The reforms will make it easier for investors to transfer funds between the stock and crypto markets, streamlining processes and leveraging existing KYC (Know Your Customer) systems.

Strategic Goals

• Digital Economy Leadership:
  By integrating crypto payments and reforming financial regulations, Thailand aims to position itself as a forward-thinking, digitally inclusive economy.
• Attracting Global Capital:
  The move is expected to draw more tourists and international investors, further boosting the country’s appeal as a global financial and travel hub.

FAQ

1. Can tourists now spend crypto directly in Thailand?Not yet. The system is under review and will launch after infrastructure and regulatory checks are completed.

2. How will merchants receive payments?Merchants will always receive Thai baht, even if the customer pays in crypto. They may not even know crypto was used.

3. Will this affect the value of the Thai baht?No. The system is specifically designed to avoid direct use of crypto in domestic transactions, protecting the baht from volatility.

4. Are there broader reforms beyond tourism payments?Yes. Thailand is overhauling its financial regulations to unify capital and digital markets, expand investment options, and modernize regulatory oversight.

5. When will the system launch?A pilot program will begin once all supporting infrastructure and regulatory approvals are in place, but no exact date has been announced.

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