Thailand to boost tourism by making crypto payments easier
Thailand hopes to attract cryptocurrency holders while promoting its tourist destinations by making it easier for visitors to spend cryptocurrency there.
The Tourism Authority of Thailand is already discussing the plan with the Thai Securities and Exchange Commission, the Bank of Thailand, and crypto exchange Bitkub Online Co.
The authority will create a new unit to handle crypto token issuances, wallet production, and building a new tourism ecosystem.
However, Thailand does not currently consider cryptocurrencies as legal tender.
The country hopes to recover around $80 billion in lost tourism revenues due to the COVID-19 pandemic and subsequent lockdown.