Crypto the future: Thailand coins new digital investment arena path

Thailand is making strides to become a regional leader in digital asset investment, with the government pledging to create opportunities and enhance accessibility in this burgeoning market.

Deputy Finance Minister Julapun Amornvivat emphasised the importance of collaboration with the private sector to support the growth of digital assets during a keynote speech at a Binance TH event.

In his address, Julapun highlighted the surge in Bitcoin’s price, which reached a new high of US$94,000 (approximately 3.3 million baht) following Donald Trump’s US presidential election victory. This, he noted, underscores the potential of digital assets as a viable alternative investment market.

The Thai government has taken significant steps by introducing investment tokens under the Securities and Exchange Act of 1992. These efforts are intended to align with international investment standards while promoting innovation in financial technology and the capital market.

Julapun stressed the government’s focus on enhancing digital literacy, acknowledging the rapid technological advancements and their crucial role in society.

“Technology is transforming society, making it essential for people to adapt to these changes, particularly in the economic sector. To address this, the government is promoting digital literacy through its digital wallet policy, which aims to stimulate the economy and enhance digital skills, especially among those less familiar with technology.”

Moreover, the government aims to boost financial literacy, enabling Thais to navigate the complexities of investing in the digital economy effectively.

Julapun’s participation in the event underscored the government’s commitment to simplifying digital asset investments and positioning Thailand as a leader in the digital asset domain.

“The government hopes to see Thai non-fungible tokens or digital assets making a mark on the global stage, with new unicorns emerging that can generate substantial economic value for Thailand.”

The Thai Digital Asset Association recently noted that Thailand has the potential to become a hub for digital assets, provided strategic policies are implemented. Clearer regulations and increased institutional investments are contributing to the cryptocurrency market’s impressive growth this year, reported Bangkok Post.