≡-Thailand Launches a Crypto Sandbox Through SEC and BOT to Boost Tourism, Allowing New Foreign Tourists to Use Digital Assets for Travel and Spending in the Country – Viral of Today

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Home » TOURISM NEWS » Thailand Launches a Crypto Sandbox Through SEC and BOT to Boost Tourism, Allowing New Foreign Tourists to Use Digital Assets for Travel and Spending in the Country Wednesday, July 16, 2025As part of a historic effort to increase tourism, specifically through digital innovation, the Securities and Exchange Commission (SEC) of Thailand, alongside the Bank of Thailand (BOT), recently announced the introduction of a sandbox for cryptocurrencies. This historic event allows for foreign tourists to exchange cryptocurrencies for Thai baht with greater ease, therefore allowing them to spend more freely in the country, setting a new standard for convenience combined with greater financial accessibility in Thailand.Embracing Digital Innovation for Economic GrowthObserving the extraordinary world-wide popularity and growth of digital products, Thai officials have released this new sandbox platform. Recent statistics bear out a substantial rise in digital asset ownership on a world-wide basis, with owners more than doubling from 580 million to 617 million during the course of 2024. The digital asset market itself recorded a staggering market capitalization of some $3.7 trillion for the same year, underscoring the economic benefit of including digital currencies in everyday commerce.Pursuing Thailand’s Tourism SectorIt arrives during a period of healthy tourism rebound for Thailand, which was subject to widespread disruptions from the global COVID-19 pandemic. In 2024, 35.54 million tourists visited Thailand, generating 1.67 trillion baht revenue—a substantial increase from the previous year. Nevertheless, current numbers are below pre-pandemic levels, so there remains ample opportunity for more tourism infrastructure development and innovation.This new digital asset program aims at tech-savvy foreign visitors, being more convenient and catering to a growing segment of tourists that utilize digital currencies for foreign travels.Features of the Crypto SandboxThe sandbox provides a legal, safe, and regulated platform for tourists to transact digital assets for Thai baht. This transaction will be facilitated through licensed digital asset operators regulated by the SEC and e-money operators regulated by the Bank of Thailand.Program participants will be under stringent Know Your Customer (KYC) protocols befitting the level of the Anti-Money Laundering Office (AMLO) for adequate security and compliance with regulations.Transaction Limits and Payment MethodsTransactionTo avoid potential risks without giving up the convenience of transactions, some limits for transactions are introduced:Payment to small merchants, either street vendors or market vendors, will be limited to 50,000 baht per person, per month.Payments to verified merchants—who are merchants that have completed Know Your Merchant (KYM) protocols—will be eligible for a higher monthly limit of a maximum of 500,000 baht per person.Payments can be facilitated easily through commonly utilized digital methods, including Thai QR Code platforms that are readily available for merchants and visitors.Strategic Public-Private PartnersThe sandbox project for cryptos proves fruitful cooperation between the private sector players and the regulator. In this approach, referred to as the Built-Own-Operate-Transfer (BOOT) model, the financial risk is heavily offloaded for the state, tapping private sector efficiency and tech know-how.This collaboration ensures the project’s economic viability and aligns the initiative with national goals for digital development and sustainable development of the economy.Consultation and FeedbackThe SEC recently launched a wide-ranging public consultation procedure for receiving comments on the proposal for a crypto sandbox, which will be received until August 13, 2025. Stakeholder feedback through this consultation will be invaluable for fine-tuning the initiative, clearing up concerns, and ensuring that the sandbox serves not only the needs of the regulator but also that of the consumer.Potential Economic and Strategic BenefitsExperts regard this new financial plan as a major opportunity for Thailand to more firmly establish itself as a modern digital economy. Thailand already hosts the fifth-largest digital currency market globally and largest based in Asia, which puts the country well on the way to becoming a digital asset hub.Not only can this virtual sandbox support short-term tourism development, but it places Thailand on a good footing for long-term economic gains, including additional influx of foreign exchange and more demand for the Thai baht.Challenges and Future ConsiderationsWhile the project is quite promising, there are several hurdles to cross. These are challenges involved with proper verification of identity, not to mention integration with existing financial networks. If these are taken care of, they can offer norms for later digital asset integration with other segments of the economy.Industry experts are of the opinion that successful operationalization of this sandbox can form the basis for broader digital asset utilization in Thailand, which can be a springboard towards a national digital baht project, helping Thailand emerge prominently in the global digital economy sector.Conclusion: Making a Historical Leap Towards the Digital Future Thailand’s digital asset sandbox program is a sensational combination of digital advancement, economic integration, and sustainable tourism development. Through facilitating effortless digital asset exchanges, Thailand not only enhances tourism experiences but significantly serves Thailand’s national economic and strategic goals. As this pionieer sandbox matures, Thailand will be a central player of the world digital financial system, transforming the nation’s tourism and economic landscape towards a prosperous digital future.

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