Former Thai PM Thaksin Shinawatra urged the government to study cryptocurrencies to stay relevant globally. He highlighted the rise of digital assets and the potential impact of global trade changes. Thailand’s government has already started experimenting with crypto, including regulatory sandboxes and digital cash distribution to citizens.
Former Thailand Prime Minister Thaksin Shinawatra recently gave his perspective on crypto during a talk held at the Intercontinental Hotel in Hua Hin. He especially urged the Thai government to quickly dive into the world of digital assets else it’ll be too late too soon. He also added not necessarily buying crypto, but by studying it to stay relevant in a rapidly digitizing world. He pointed out that we might have more cryptocurrencies than countries in the future and that Thailand needs to understand this shift.
He also mentioned global challenges, like trade tariffs from the U.S. and even the idea of using Bitcoin to pay off national debts, to further clarify his points. He believes doing so will set Thailand to explore digital currencies. The rise of digital assets is definitely undeniable, with categories now outnumbering countries.
Thailand’s already been making moves to embrace the digital economy. In August this year,the country’s Securities and Exchange Commission (SEC) set up a crypto sandbox, letting businesses test digital assets in a relaxed regulatory environment. Plus, the government’s distributed digital cash to 45 million residents, and Kasikornbank became the first licensed crypto custodian. With more institutional crypto moves in the works, Thailand’s clearly making a play to become a player in the digital economy.
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