Thailand’s Securities and Exchange Commission (SEC) is making exciting changes to the capital market by launching a new distributed ledger technology (DLT) platform. This development will pave the way for increased crypto adoption, a move that various countries globally have explored.
This advanced technological approach is designed to significantly improve key attributes such as efficiency, transparency, and accessibility, setting the stage for a new era in digital finance in Southeast Asia.
Thailand Tows The Crypto Way
In January 2025, Deputy Prime Minister and Finance Minister Pichai Chunhavajira, during a seminar hosted by the Marketing Association of Thailand, announced that the country will now pilot crypto payments for tourists in Phuket. This move aims to offer foreign visitors an alternative payment method.
Like the U.S. government, Thailand has actively promoted a favorable environment for digital assets, making it an attractive destination for both Web3 companies and investors. The Thai government has introduced tax incentives, notably the value-added tax (VAT) exemption on digital crypto trading.
In addition to crypto assets, the Thai government is investigating the potential applications of blockchain technology across various sectors. Initiatives such as the Thailand Blockchain Community Initiative and blockchain integration into supply chain management, finance, and agriculture demonstrate the nation’s commitment to leveraging the advantages of distributed ledger technology.
Crypto Adoption on the Rise
Thailand is just one of many nations that have come to embrace crypto. Recently, Norway’s Central Bank showed strong enthusiasm for the future of crypto, boasting about $500 million in Bitcoin investments, further strengthening the perception of crypto investment.
The Central Bank in the Czech Republic is also recently preparing to include the apex crypto in its reserve holdings as disclosed by the sovereign bank’s governor, Ales Michl, which sees the European country diversify its foreign reserves by investing up to 5% of its estimated $146.13 billion reserves into Bitcoin.
EI Salvador, the world’s first country to adopt Bitcoin (BTC) as legal tender, announced the expansion of its national reserve by an additional $1.1 million. This brings the country’s overall BTC holdings to a staggering $640 million.
Thus, the Thai government is strongly committed to fostering a crypto-friendly environment, emphasizing regulation, investor protection, and innovation.
