Thailand wants to be a digital asset hub.

[cmike]

I nearly choked on my coffee this morning when I read this article.

 

The first thing Thailand needs to do is allow foreigners access to the crypto exchanges. 

 

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-unmoved-despite-thailand-making-btc-crypto-trading-vat-free-202402071900

[Conno]

This 7% tax they are talking about as far as I understand isn't directed towards individuals but the exchanges and businesses in the digital arena. After saying that, I agree with your general sentiment. One word that always strikes me as being appropriate as far as Thailand's approach to crypto and the digital world in general is schizophrenic. They want to be seen embracing it as a progressive country but at the same time are terrified of losing control over the old broken fiat system. In their defense, they are not the only country in the world with this syndrome.

Edited February 10 by Conno

[Neeranam]

I saw that article.

I remember messaging Korn Chatikavanich, the former finance minister, a few years ago about XRP being used in cross border remittance to Japan , by SCB. He said Thailand will become a hub and all asset will be digitalized.

[drgoon]

The Hub of Hubs next

[zhounan]

All they want acceleration, without understanding fhe consequences of this step.