Thailand Launches 'TouristDigiPay' Program to Allow Tourists to Exchange Cryptocurrencies for Thai Baht

PANews reported on August 18th that Thailand has launched a pilot program called "TouristDigiPay," allowing foreign tourists to exchange crypto assets for Thai baht for daily purchases. The program, which will initially run for 18 months, will be overseen by the Ministry of Finance, the Securities and Exchange Commission, the Anti-Money Laundering Office, and the Ministry of Tourism and Sports.

Tourists can exchange crypto assets for local currency through a regulated platform and use them at merchants nationwide. While the program aims to support tourism growth, it does not directly promote cryptocurrency as a means of payment. Participants must adhere to strict anti-money laundering and customer verification regulations. Furthermore, Thailand has previously approved a capital gains tax exemption for cryptocurrency transactions, effective until December 31, 2029.

Earlier on August 17, it was reported that Thailand will launch a cryptocurrency exchange program for foreign tourists .