ARIA | News

Bitcoin Fuels Tourism Innovation in Phuket, Thailand

by aria-crypto.com

January 8, 2025 at 15:26

Bitcoin Fuels Tourism Innovation in Phuket, Thailand

Thailand is set to enhance its tourism sector by introducing a Bitcoin payment pilot program in Phuket by 2025, announced Deputy Prime Minister Pichai Chunhavajira. This initiative is designed to provide tourists with the option to use Bitcoin for various transactions, promoting ease of payment in one of Thailand's prime destinations. The deployment will strictly follow existing legal frameworks to ensure compliance without necessitating new laws. Tourists will need to register their Bitcoin through local exchanges, complete identity verification, and can then proceed to make their purchases. A dedicated clearing house will convert Bitcoin transactions into Thai baht to facilitate smooth operations for merchants. This move not only aims to bolster Thailand's appeal to crypto-savvy tourists but also reflects the broader adoption of digital currencies in daily transactions within the country. Pichai underscored the importance of this initiative in maintaining Thailand's competitive edge in the global tourism market. The program is expected to attract a modern, tech-oriented demographic, leveraging the growing prominence and adoption of cryptocurrencies worldwide.

Disclaimer

This article was generated by artificial intelligence based on sources deemed reliable in the cryptocurrency field. While ARIA strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The content is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. Any reliance you place on such information is strictly at your own risk. ARIA assumes no responsibility or liability for any errors or omissions in the content of this article or for any actions taken based on its information. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions related to cryptocurrency investments.

>> EU Regulatory Scrutiny Intensifies as FTX Clashes with Backpack Over Misleading FTX EU Acquisition Claims

FTX.com and the FTX Recovery Trust recently highlighted misleading statements by Backpack regarding their acquisition of FTX EU. Despite Backpack's announcement on January 7, 2025, FTX retains full ownership of...

an hour ago

>> DOJ's Approval to Liquidate US Bitcoin Holdings Shakes Crypto Market

The U.S. Department of Justice (DOJ) has received court approval to sell a massive stash of 69,370 Bitcoin, a decision sparking significant turbulence in the cryptocurrency markets. Initially seized from the Si...

2 hours ago

>> EU Crypto Market Expands as Bullish Secures Key BaFin Licenses

Bullish Group, through its German subsidiary Bullish DE Custody GmbH, has obtained crucial regulatory approvals from Germany's Federal Financial Supervisory Authority (BaFin). Granted on December 20, these app...

7 hours ago

>> CFTC Chair Behnam Advocates for Rigorous Crypto Regulations as Tenure Ends

Outgoing U.S. Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam emphasized the necessity of establishing regulatory frameworks for cryptocurrencies in his final public statements. Speaking at a Br...

9 hours ago

>> South Korea Enhances Crypto Market, Making Way for Bitcoin and Corporate Crypto Investments

South Korea is reportedly set to lift its de facto ban on institutional crypto trading, a move that could revitalize the market landscape for Bitcoin and other cryptocurrencies. Local media outlets have highlig...

13 hours ago

>> DeFi Innovations Soar as Pyth Network and Revolut Forge Strategic Data Alliance

Blockchain oracle Pyth Network and digital banking giant Revolut have embarked on a strategic partnership to enhance data sharing within the DeFi sector. This collaboration will see Revolut integrating its exte...

15 hours ago

>> UAE's Crypto.com and Dubai Islamic Bank Forge Pioneering Partnership to Revolutionize Crypto and Sharia Banking

Crypto.com has officially collaborated with Dubai Islamic Bank, the largest Islamic bank in the UAE, to roll out innovative cryptocurrency services while adhering to Sharia principles. This strategic alliance w...

15 hours ago

>> South Korea Embraces Bitcoin, Setting New Investment Horizons

South Korea is embracing a transformative phase towards cryptocurrency investments as the Financial Services Commission (FSC) indicates plans for allowing companies to engage with cryptocurrencies. This strateg...

15 hours ago

>> Navigating Legal Waters: SEC Faces Challenge as Court Approves Coinbase's Appeal Impacting Ripple and Crypto Regulation

Judge Katherine Polk Failla of the Southern District of New York recently granted Coinbase permission to pursue an interlocutory appeal in its ongoing legal clash with the SEC. The appeal will focus on whether ...

17 hours ago

All the latest crypto news in one place

Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.

Launch Terminal