Trump meets Zelenskiy, says Putin wants war to end, mulls trilateral talks
Investing.com -- Thailand will launch an 18-month pilot program allowing foreign visitors to convert cryptocurrencies into baht for local payments, officials announced Monday.
The initiative aims to boost Thailand’s vital tourism sector by providing visitors with an additional payment option. Finance Ministry permanent secretary Lavaron Sangsnit told reporters that conversions will be capped at 550,000 baht ($16,949.15) during the test phase to prevent money laundering.
According to Finance Minister Pichai Chunhavajira, tourists will make these conversions through Thai-based cryptocurrency exchange platforms. The converted funds will then move into online wallet applications, enabling payments to local businesses.
"This project will support tourism," Pichai said, adding that it could help increase tourist spending in the early stages.
Officials indicated that the conversion limit could be reassessed after the completion of the 18-month pilot period.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.