Former Thai Prime Minister Thaksin Shinawatra announced plans to launch a cryptocurrency sandbox in Phuket by October.
Speaking during discussions on the ASEAN economy, Thaksin emphasized Thailand’s proactive approach to cryptocurrency development, particularly in light of U.S. initiatives to adopt cryptocurrencies. He noted a strong interest from other ASEAN nations in collaborating with Thailand on cryptocurrency discussions, recognizing the opportunity to stimulate economic growth through cryptocurrency adoption.
Addressing questions about his recent calls for ASEAN talks on the matter, Thaksin confirmed that discussions are currently underway. He stressed the importance of rapid cryptocurrency adoption to prevent an exodus of skilled talent to the United States.
Thaksin clarified that cryptocurrencies should not be equated with gambling. He described them as a new form of currency, particularly “stablecoins,” which are backed by assets like gold or government bonds, making them less risky than other currencies. He reiterated that Thailand would not tolerate high-risk cryptocurrencies and outlined plans for an October launch of a cryptocurrency sandbox involving private sector participation.
January 2025, Cryptoniteuae
