Global Feed Post Login
Replying to Avatar No Bullshit Bitcoin

🇹🇭 Thailand plans to trial KYC'ed bitcoin payments in Phuket for tourists

The country's Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced a new initiative during a seminar organized by the Marketing Association of Thailand.

Foreign tourists in the pilot program may be able to register their coin through a Thai exchange and verify their identities before using the coins to purchase goods and services. A clearing house would subsequently convert the coins into Thai baht.

https://www.nationthailand.com/news/policy/40044945

Avatar
Machu Pikacchu 1y ago

The KYC part seems doomed to fail eventually.

Merchants will see their bitcoin holdings gain purchasing power long term and might stop converting to Baht. When that happens they’ll start accepting BTC outside their government approved point of sales apps.

Reply to this note

Please Login to reply.

Discussion

No replies yet.