Thai SEC and central bank plan to launch 'crypto sandbox'

According to Golden Finance, the Securities and Exchange Commission (SEC) of Thailand and the Bank of Thailand plan to launch a crypto regulatory sandbox for foreign tourists, allowing them to exchange digital assets for Thai baht through licensed platforms and use them through locally regulated electronic payment services. The plan is currently in the public hearing stage, with an initial service period of up to 18 months. It prohibits direct encrypted payments and requires conversion into fiat currency for transactions. This policy aims to enhance tourism competitiveness through the use of encrypted financial technology and is expected to be implemented with the participation of compliance agencies including Gulf Binance. However, the Tourism Commission of Thailand (TCT) warns against hasty implementation and calls for strengthening anti money laundering measures and improving overall ecological preparedness.