Binance Supports Bitcoin Payment Pilot Proposal in Thailand

Thailand is considering a Bitcoin pilot project proposed by former Prime Minister Thaksin Shinawatra that would be tested in Phuket as a tourism-focused sandbox. The proposal was supported by Binance Thailand CEO, who sees it as a positive step for the country's competitiveness and ability to attract tourists. However, despite efforts by industry advocates and some political supporters to turn Thailand into a digital hub, the Bank of Thailand still bans crypto payments. Gulf Binance CEO Nirun Fuwattananukul said the proposal "not only reflects the momentum of global cryptocurrency adoption, but also shows that top leaders are embracing these transformative technologies," adding: "As more and more countries adopt digital assets and cryptocurrencies, Thailand cannot fall behind," He continued that given the country's reliance on tourism and foreign capital inflows, "integrating cryptocurrencies into Phuket's economy can be well combined with Thailand's strategic advantages, potentially attracting tech-savvy tourists and investors." (Bangkok Post) Earlier, former Thai Prime Minister Thaksin Shinawatra said at a seminar that Trump might repay US debts through Bitcoin, while emphasizing that this was not an encouragement to buy Bitcoin, but a reminder that this was a trend. There are already many cryptocurrencies, and some say that in the future there will be more currencies than countries. Thai people must keep up with the times and understand these changes. Thaksin also suggested that the prime minister could instruct the Ministry of Finance to study whether Bitcoin can be accepted in Thailand, for example, by piloting the use of Bitcoin in Phuket so that people who hold Bitcoin can make payments locally.