{"id":34881,"date":"2025-01-14T16:00:22","date_gmt":"2025-01-14T13:00:22","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=34881"},"modified":"2025-01-14T15:04:05","modified_gmt":"2025-01-14T12:04:05","slug":"thailands-former-prime-minister-bullish-on-crypto","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/thailands-former-prime-minister-bullish-on-crypto\/","title":{"rendered":"Thailand&#8217;s Former Prime Minister Bullish on Crypto!"},"content":{"rendered":"<p>Former Thai Prime Minister <strong>Thaksin Shinawatra<\/strong> has stated that the legalization of <strong>stablecoin<\/strong> and other <strong>asset-backed tokens<\/strong> poses no risk, advocating for the legalization of the <strong>online gambling<\/strong> sector to boost <strong>Thailand\u2019s revenue<\/strong> and <strong>innovation<\/strong>.<\/p>\n<p>Thaksin pointed out that the Thai government is losing around <strong>$4 billion<\/strong> (100 billion Thai baht) in <strong>tax revenue<\/strong> from <strong>online gambling<\/strong>. Speaking at an event on <strong>January 13<\/strong>, he urged Thai authorities to legalize the <strong>online gambling ecosystem<\/strong>.<\/p>\n<p>This recommendation came shortly after Thailand\u2019s cabinet approved the draft of the <strong>Entertainment Complex Business Act<\/strong>. The bill aims to allow the establishment of <strong>entertainment complexes<\/strong> and <strong>casinos<\/strong> and to tax Thailand\u2019s underground gambling industry.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/thailands-former-prime-minister-bullish-on-crypto\/#Political_Influence_on_Thai_Regulations\" title=\"Political Influence on Thai Regulations\">Political Influence on Thai Regulations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/thailands-former-prime-minister-bullish-on-crypto\/#Adoption_of_Crypto_and_Stablecoins\" title=\"Adoption of Crypto and Stablecoins\">Adoption of Crypto and Stablecoins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/thailands-former-prime-minister-bullish-on-crypto\/#Digital_Baht_Payments_and_Rising_Interest\" title=\"Digital Baht Payments and Rising Interest\">Digital Baht Payments and Rising Interest<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Political_Influence_on_Thai_Regulations\"><\/span>Political Influence on Thai Regulations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Although Thaksin is not part of the current administration, he still holds significant <strong>political influence<\/strong> in <strong>Thailand<\/strong>. His daughter, <strong>Paetongtarn Shinawatra<\/strong>, is currently the country&#8217;s <strong>prime minister<\/strong>.<\/p>\n<hr \/>\n<p><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-talks-about-the-name-of-a-new-memecoin\/\">Elon Musk Talks About the Name of a New Memecoin!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<p>When the draft law was approved, the current <strong>Prime Minister<\/strong> highlighted <strong>Singapore&#8217;s<\/strong> similar implementation, which had a positive impact on the island nation&#8217;s <strong>tourism<\/strong> and <strong>GDP<\/strong>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/uzmancoin.com\/wp-content\/uploads\/2022\/01\/tayland-bitcoin-1280x720.jpg\" alt=\"tayland\" width=\"1280\" height=\"720\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Adoption_of_Crypto_and_Stablecoins\"><\/span>Adoption of Crypto and Stablecoins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thaksin developed his previous recommendations on <strong>cryptocurrencies<\/strong> and urged for the adoption of <strong>stablecoins<\/strong> and other non-volatile <strong>cryptocurrencies<\/strong>. He called on <strong>Thailand\u2019s Securities and Exchange Commission (SEC)<\/strong> to allow the trading of <strong>stablecoins<\/strong>.<\/p>\n<p>Additionally, Thaksin mentioned that <strong>Phuket<\/strong> could be a suitable pilot area for testing <strong>crypto payment systems<\/strong>. &#8220;There is no risk; it is just another <strong>currency<\/strong> in the world,&#8221; he said.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Digital_Baht_Payments_and_Rising_Interest\"><\/span>Digital Baht Payments and Rising Interest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In <strong>July 2024<\/strong>, Thailand distributed <strong>social benefits<\/strong> to 45 million citizens in <strong>digital money<\/strong>. The payments aimed to stimulate the economy, with eligible Thais receiving about <strong>$280<\/strong>, costing the government <strong>$13.8 billion<\/strong>.<\/p>\n<p>The <strong>Bank of Thailand<\/strong> completed a <strong>retail central bank digital currency (CBDC)<\/strong> trial in <strong>April 2024<\/strong>. At the conclusion of the project, the bank announced there were no immediate plans to officially issue a <strong>retail CBDC<\/strong> but would continue to use the insights gained for future studies on improving the <strong>payment system<\/strong>.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Thai Prime Minister Thaksin Shinawatra has stated that the legalization of stablecoin and other asset-backed tokens poses no risk, advocating for the legalization of the online gambling sector to boost Thailand\u2019s revenue and innovation. Thaksin pointed out that the Thai government is losing around $4 billion (100 billion Thai baht) in tax revenue from<\/p>\n","protected":false},"author":28,"featured_media":33607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[1800,58,11031,11028,11030,3152,1151,11029,2901,11027],"class_list":["post-34881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-cbdc","tag-cryptocurrency","tag-digital-baht","tag-online-gambling","tag-phuket","tag-securities-and-exchange-commission","tag-stablecoins","tag-tax-revenue","tag-thailand","tag-thaksin-shinawatra"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thailand&#039;s Former Prime Minister Bullish on Crypto! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/thailands-former-prime-minister-bullish-on-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand&#039;s Former Prime Minister Bullish on Crypto! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Former Thai Prime Minister Thaksin Shinawatra has stated that the legalization of stablecoin and other asset-backed tokens poses no risk, advocating for the legalization of the online gambling sector to boost Thailand\u2019s revenue and innovation. 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