Picture courtesy of Lee Stoerzinger

 

Thailand’s Ministry of Finance has revealed an exciting new project, "TouristDigiPay", aimed at making it easier for tourists to swap cryptocurrencies for baht, boosting tourist spending by 10%.

 

The scheme, announced by Deputy Prime Minister and Minister of Finance Pichai Chunhavajira, could add over 175 billion baht to Thailand’s economy.

 

Rolling out as an 18-month trial, the sandbox involves government agencies working together. Merchants onboarded through a "Know Your Merchant" process can accept up to 500,000 baht monthly, while smaller vendors are capped at 50,000 baht. The approach stands out, as it facilitates crypto conversion rather than direct crypto payments.

 

Cryptocurrencies will be exchanged for baht at SEC-regulated operators. Funds move into an electronic wallet managed by the Bank of Thailand, allowing tourists to spend easily via QR code at numerous locations.

 

This scheme aims to enhance spending from approximately 35 million tourists each year, with just a 10% increase translating into a massive economic uplift, reported The Nation.

 

Robust anti-money laundering protocols take safety seriously, ensuring businesses and tourists adhere to high standards. Full KYC and CDD procedures will be in place, protecting against illicit activity. Digital wallets will also be screened against a secure blacklist.

 

This innovative programme is scheduled to kick off in late 2025. If successful, the Ministry of Finance, led by Permanent Secretary Lavaron Sangsnit, sees potential for broader application. Limits could increase, and digital assets might even fund large purchases like property or yachts.

 

  Adapted by ASEAN Now from The Nation 2025-08-19

 

I'll wait for the first "scam" report

The queues will be unmanageable, get in line early!  You might get a  few delays when the tech has to keep rebooting the pirate copy of Windows 96 that the machines will be running on,  and imagine the confusion, they can barely manage to do a normal currency exchange in some of the banks! Good luck with this yet another hair brained scheme by delusional fools.

I can see why, for some, they would want to spend crypto instead of hard cash, but why on earth would it boost spending? One replaces the other. 
 

And why by 10%? How do they justify that specific percentage? Just a number picked out of thin air methinks.

Don't see anyone with sense wasting it on daily spending. More likely to help criminals hiding out here that have had bank accounts frozen 🤔

Could add over 175 billion baht to Thailand’s economy.

 

Or maybe could add over 100 billion trillion zillion baht to the Thai economy....lol

 

 

 

 

 

This is a move in the wrong direction.

 

Thailand will become a money laundering hub of the world!

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Posted 4 hours ago

Picture courtesy of Lee Stoerzinger

 

Thailand’s Ministry of Finance has revealed an exciting new project, "TouristDigiPay", aimed at making it easier for tourists to swap cryptocurrencies for baht, boosting tourist spending by 10%"

 

I must confess to misreading the first paragraph.

 

I read it as TouristPigDay

 

I like mine better.

27 minutes ago, Hakuna Matata said:

This is a move in the wrong direction.

 

Thailand will become a money laundering hub of the world!

Money launderers certainly do not want to KYC.
All "tourists" do not have a bunch of fake IDs or nominees ready.

Interesting! But there are so many ways they could screw this up that it's almost a certainty that they will.

Again and again!

Sounds like aiming for money from the more gray sector – and yes, I know that there are fifty shades of that colour – but why can crypto currency holders not just use their existing exchange-to-money platforms, and then spend real money or plastic card funds in bank accounts...🤔

7 hours ago, newbee2022 said:

I'll wait for the first "scam" report

 

It's just above your post....555

7 hours ago, newbee2022 said:

I'll wait for the first "scam" report

I don't think you'll be waiting long

5 hours ago, Hakuna Matata said:

This is a move in the wrong direction.

 

Thailand will become a money laundering hub of the world!

It already has a significant money laundering issue

37 minutes ago, hotchilli said:

I don't think you'll be waiting long

Biddings appreciated

1 hour ago, Will B Good said:

 

It's just above your post....555

....and now? What to do?

 

Like that guy in the Netherlands.......sold his house, sold his car, moved his wife and kids into a caravan......put the whole lot into bitcoin.......it promptly crashed......BUT.....if he has hung on so far he might well be a millionaire.

 

So go for it.

key words say it all

Scheme   ...   involves government agencies working together ...   making it easier for tourists

take safety seriously, ensuring businesses and tourists adhere to high standards

 

 

Jfc they are not competent enough to pull this off. Why must they keep opening their mouths? Just make it tax free and no kyc to exchange crypto to bath and gtfo.

“Rising cryptocurrency-related crimes have prompted concern from governments across the world.

According to blockchain analytics firm Chainalysis, cryptocurrency platforms lost $2.2bn to theft in 2024, while illicit actors received an estimated $40.9bn in cryptocurrency.”

 

Just read this in an article on the BBC website. It was related to a scammer just caught in Seoul.

 

No wonder the Thais want in on the act.

On 8/19/2025 at 4:14 PM, Will B Good said:

 

Like that guy in the Netherlands.......sold his house, sold his car, moved his wife and kids into a caravan......put the whole lot into bitcoin.......it promptly crashed......BUT.....if he has hung on so far he might well be a millionaire.

 

So go for it.

They are worth over 100 million.  They were in Portugal for a while but are now living in Phuket.

While I don’t own or desire Bitcoin I can see the following  in the future.

 

I went to pay for my meal and the next day my account was hacked and depleted.

 

The bar on Soi 6 accepted Bitcoin and the next day my account was empty.

 

How does one pay with bitcoin? Carry a hack saw and cut the coin in small pieces?

 

Or a mysterious account?

6 hours ago, ThreeCardMonte said:

The bar on Soi 6 accepted Bitcoin and the next day my account was empty.

 

You should obviously educate yourself first, before walking into a Soi 6 bar with a crypto wallet 

17 minutes ago, Caldera said:

 

You should obviously educate yourself first, before walking into a Soi 6 bar with a crypto wallet 

I was joking.  Never have or will own bitcoin 

25 minutes ago, ThreeCardMonte said:

I was joking.  Never have or will own bitcoin 

 

Okay. Other people would have said they were joking and would never actually go to Soi 6. Each to their own. 555

1 hour ago, ThreeCardMonte said:

I was joking.  Never have or will own bitcoin 

You may decide to not own bitcoin but you should be aware and prepared that you will have to use (or already using without your knowledge) blockchain technology and crypto sooner rather than later.

9 hours ago, Yumthai said:

You may decide to not own bitcoin but you should be aware and prepared that you will have to use (or already using without your knowledge) blockchain technology and crypto sooner rather than later.

According to who?

 

Bitcoin fanboys?

8 hours ago, ThreeCardMonte said:

According to who?

 

Bitcoin fanboys?

The whole global banking and financial system is progressively pivoting to blockchain technology/crypto assets. Wake up.

1 hour ago, Yumthai said:

The whole global banking and financial system is progressively pivoting to blockchain technology/crypto assets. Wake up.

 

 

Lol

 

Not seeing it .  Only in the eyes of the fanboys.

 

Your telling me to wake up.

 

Hsve you seen the Thai post regulation thread?

 

Some are still dependent on snail mail.