Thailand officially launched its "TouristDigiPay" scheme on August 18, 2025, enabling foreign visitors to convert cryptocurrency into Thai Baht for electronic payments nationwide. Operating under a regulatory sandbox framework, the system requires stringent KYC/AML checks and imposes monthly spending limits of 50,000–500,000 baht to prevent financial crimes while targeting tourism revenue recovery amid a 5% decline in visitor arrivals during early 2025.
Tourists must open accounts with SEC-regulated digital asset businesses and Bank of Thailand-licensed e-money providers, converting crypto exclusively through licensed operators. Funds can be spent via QR codes and electronic payments but prohibit cash withdrawals, restricting participation to temporarily staying foreigners. The initiative builds on Thailand's broader digital asset strategy, including a five-year capital gains tax exemption (2025–2029) for SEC-platform transactions approved in June 2025, aimed at positioning Thailand as a global crypto hub.
Concurrently, Thailand tightened oversight by blocking unlicensed exchanges like Bybit and OKX in May 2025 while launching $150 million in blockchain-based "G-tokens" for retail government bond investments. The Tourism Council expressed concerns about merchant readiness and money laundering risks, particularly in Phuket where stakeholders reported low awareness during consultations ending August 13.
Globally, Thailand follows Bhutan's May 2025 rollout of a national crypto tourism payment system with Binance Pay, which onboarded 100+ merchants and settled transactions fee-free. France's Riviera similarly enabled crypto payments at 80+ businesses via Binance Pay partnerships.