Thailand Launches TouristDigiPay for Crypto-to-Baht Payments

The post Thailand Launches TouristDigiPay for Crypto-to-Baht Payments appeared first on Coinpedia Fintech News

The Securities and Exchange Commission (SEC) in Thailand collaborated with the Ministry of Finance, the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports to jointly launch “TouristDigiPay”. It allows foreign tourists to convert their cryptocurrencies into Thai baht for electronic payments during their visit. 

Thailand Launches TouristDigiPay

On August 18, the Deputy Prime Minister, Mr. Pichai Chunhavajira, revealed that the project will simplify the use of digital assets in daily life while also allowing more options for foreign tourists. It does not allow direct payment with crypto; instead, it requires converting it into Thailand’s national currency to use it for payment of goods and services. This move mitigates the risk of price volatility for merchants.

The entire process will be handled by SEC authorities and e-money service providers under the supervision of the Bank of Thailand (BOT). The project is scheduled for an 18-month trial period, starting in Q4 2025. 

How To Use Digital Assets For Payment in Thailand?

• Upon arrival in Thailand, complete KYC to open a 2-part account.

• Digital Asset Account (Open an account with a digital asset business operator).

• Tourist Wallet Account (Open an account with an e-money provider).

• Sell digital assets through the specified channel. When the transaction is successful, the digital assets will be transferred in Thai baht to the Tourist Wallet. 

For spending under the TouristDigiPay Sandbox, tourists can scan the QR code available at various merchant stores and pay via smartphone applications. Merchants will receive payment for goods and services in Thai baht only. 

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Ms. Pornanong Busaratrakul, Secretary-General of the SEC, stated, “The TouristDigiPay project is an extension of the existing ecosystem between the digital asset trading system under the supervision of the SEC and the electronic payment system (e-money) under the supervision of the Bank of Thailand.” 

Thailand Increases Global Competition in Crypto 

With its newly formed Sandbox of TouristDigiPay, the country is modernizing the digital assets space. It also creates opportunities to attract foreign investment in its local region. The Royal Thai Government stated that it also promotes the development of innovation and the country’s financial infrastructure to support the creative and safe utilization of digital assets in the traditional economic system with a robust regulatory framework. 

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FAQs

Is Thailand tax-free for crypto investments?

No, Thailand is not entirely tax-free for crypto. From January 1, 2025, to December 31, 2029, there is a five-year tax exemption on capital gains from crypto trading made through licensed digital asset platforms. However, personal income from crypto (like mining, airdrops, or receiving crypto as payment) remains subject to income tax.

How crypto-friendly is Thailand in 2025?

Thailand is generally considered crypto-friendly in 2025. It actively fosters innovation with new laws, offers a temporary capital gains tax exemption, issues its own digital asset tokens (“G Tokens”), and focuses on investor protection. However, it also enforces strict licensing for crypto businesses and cracks down on unlicensed platforms.

Which government body regulates cryptocurrency in Thailand?

The primary government body regulating cryptocurrency in Thailand is the Securities and Exchange Commission (SEC). It oversees the licensing of digital asset businesses, sets compliance standards (including AML/CFT), and works to protect investors within the digital asset space. The Ministry of Finance also plays a role in licensing.