The Thai SEC and central bank plan to launch a "crypto sandbox" to support foreign tourists in converting crypto assets into Thai baht for consumption.

According to the Bangkok Post, the Securities and Exchange Commission (SEC) of Thailand and the Bank of Thailand are jointly promoting the establishment of a "national-level cryptocurrency sandbox" to support foreign tourists in Thailand in converting digital assets into Thai Baht for consumption. The plan allows tourists holding cryptocurrencies to convert their assets into Thai Baht through licensed digital asset service providers and use them for payment consumption nationwide through regulated e-wallet platforms. The sandbox program is only open to foreign tourists on short-term travel or temporary residence in Thailand, and participants must comply with applicable license requirements. [Wu Blockchain]