The Thai government is preparing to launch a nationwide regulatory sandbox called TouristDigiPay that will enable foreign visitors to convert cryptocurrency into Thai baht and make electronic payments through e-money service providers. The initiative is aimed at revitalizing Thailand's tourism sector, which has seen a decline in foreign visitors, particularly from China. Eligible tourists will need to complete Know Your Customer checks and open accounts with regulated digital asset businesses and e-money providers. The program will impose spending limits and restrictions on direct cash withdrawals. Full details are expected to be announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira. The introduction of tourist-specific crypto payment options follows a public consultation by Thailand's SEC regarding the role of digital assets in economic growth. This move aligns with global trends as other countries look into using cryptocurrency for tourism-related ventures.

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