Thailand’s SEC and central bank are launching a crypto sandbox, allowing foreign tourists to convert digital assets into Thai baht for local spending. The move expands on a previous Phuket-based trial, enabling transactions through licensed operators and regulated e-money platforms.

Gulf Binance CEO, Nirun Fuwattananukul, said the sandbox builds on former PM Thaksin Shinawatra’s vision to support crypto use in tourist areas. Approved operators can offer services for 18 months, with extensions possible, under strict anti-money laundering rules, spending caps, and asset eligibility guidelines.

The Tourism Council of Thailand supports the initiative, but urges readiness across the ecosystem. Vice President, Bhummikitti Ruktaengam, said many Phuket stakeholders were unaware of the ongoing public hearing. Concerns remain about illegal businesses, crypto misuse, and the need for clear rules before implementation.

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