Quote from: Fiatless on August 20, 2025, 09:18:26 PM

Quote from: Z-tight on August 20, 2025, 12:41:55 PM

The initiative is a good one, especially since it is aimed at improving tourism in the country. However, i think they ought to make the process easier for tourists if they want to encourage them to come and spend their coins in the country. I know it is all in a bid to combat money laundering, but i feel the process is too strict and centralized, tourists must open accounts with a regulated digital asset business and an e-money provider.

Tourists must also complete kyc process. I believe it would be far more effective if some of these laws were relaxed, as not all tourists would want to go through this process.

I will always support any move by the government to promote crypto awareness and adoption. I appreciate the government of Thailand for this move. The country is trying to attract tourists and digital nomads to its country. But this law forbids tourists from using any digital asset for payments directly. Which means all tourists must convert cryptocurrencies to Thai baht before use.

They will always claim that these restrictions are to prevent money laundering and terrorist financing. While in most cases it is to monitor people's financial dealings.

Can you show me a practice where a tourist would be held accountable under the law for paying with cryptocurrency?
In Russia, it is also prohibited to pay with cryptocurrency, by law, you have to sell the coins for rubles and pay. But no one cares about it.