Plus, letting tourists pay with crypto is really exciting and could make the country a hotspot for digital payments. Overall, it’s a great balance of encouraging innovation and protecting users.

This is simply a strategy to centralize the Thai crypto industry. With the restrictions placed on exchanges like Bybit, OKX, XT.COM, and others, only exchanges under government control will be allowed to operate in the country. Having said that, tax exemption on crypto trading will attract more crypto users to the nation, thereby driving economic development.

Just curious. You've obviously been to the country. Wht do you find interesting about Thailand? Why would anyone visit it instead of say Japan or Indonesia? and if the country is so enchanting, would converting your coins be a barrier to another visit?

This is not peculiar to Thailand, most countries that regulate crypto only allow services that have the required license to operate, and without the license you can't offer your services in that jurisdiction. That said, the exchanges that are approved to operate are not under the governments control per se, they are only required to comply with the extant laws, and this is the same in other countries too.

Thailand is taking important steps to revive the cryptocurrency market and make the country a digital asset hub. Thailand is planning to allow tourists to spend with cryptocurrencies to revive tourism. This is true. Thailand is taking every step necessary to revive tourism and this revival is actually happening.

When the right steps are taken, most countries can actually grow and revive again. Thailand is a very good example. Thousands of people will go on holiday to Thailand just to spend cryptocurrencies in Thailand.

This is great news for all crypto owners. Aside from El Salvador, Thailand opens a great opportunity to spend their crypto without taxes to pay. And knowing the fact that Thailand offers less prices for their goods and services, then it’s a good initiative to spend a tour in Thailand and make the best of your crypto.

Tourism will also become a hit, and most crypto owners will be excited to be part of it.

Many of my friends have recently traveled to Thailand and all were very satisfied. Many things that are forbidden here are legal there. They are very popular as a tourist destination. I'm also curious about there and want to visit soon. Now they are having a good process in the field of crypto-currencies, that shows the government's vision. Countries should compete with each other on incentives instead of bans.

I think it is a good approach from the Thai government in supporting the economic growth of its people in various sectors. I experienced something different based on the policies of my country's government, even I have to pay taxes when I make fiat deposits to exchanges that have been licensed by the government. Not only that, every time I trade any coin with any pair, taxes will still be collected so that it is considered detrimental to traders.

If Thailand adopts bitcoin as a means of payment, then they should not limit it to tourists only. Citizens should also be able to use bitcoin as a means of payment, so the policy may need to be reconsidered to find a better solution. It is very unwise to allow others to use bitcoin as a means of payment in their country, while their own citizens are prohibited.

I believe it's still in a trial phase anyway, so it's understandable if the users are limited[1]. Not to mention, the way it works is similar to how crypto credit/debit cards work, where merchants will receive fiat instead of crypto. It's no different than if you use the existing crypto card option and spend it, CMIIW. They promise more reformation, although most of them seem to be targeted toward investment instead of using crypto for payments, but who knows?

[1] https://cointelegraph.com/news/thailand-tourists-crypto-credit-cards-regulatory-reform