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Thailand's SEC and Central Bank plan to launch a "encryption sandbox"

Online reports that the Securities and Exchange Commission of Thailand (SEC) and the Bank of Thailand plan to launch a crypto regulatory sandbox for foreign tourists, allowing tourists to exchange digital assets into Thai baht through licensed platforms and use them through local regulated electronic payment services. The plan is in the public hearing stage, with an initial service period of up to 18 months. Direct encryption payments are prohibited and must be converted into legal currency for transactions. The policy aims to enhance tourism competitiveness through the use of crypto financial technology and is expected to be implemented by compliance agencies including Gulf Binance. However, the Tourism Commission of Thailand (TCT) warned against hasty launches, calling for strengthened anti-money laundering measures and improved overall ecological preparations.

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