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August 21, 2025

Thailand Launches Initiative Supporting Digital Asset Use in Tourism

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On August 18, 2025, Thailand’s Securities and Exchange Commission (SEC), in collaboration with the Ministry of Finance, the Anti-Money Laundering Office, and the Ministry of Tourism and Sports, announced the launch of TouristDigiPay. The initiative, implemented under the SEC’s Regulatory Sandbox, allows foreign tourists to convert digital assets into Thai baht for use in everyday transactions in Thailand.

Foreign tourists who opt to participate in TouristDigiPay must open two accounts once they are in Thailand:

  • An account with a licensed digital asset operator to sell or exchange digital assets for Thai baht; and
  • A tourist wallet account with a licensed e-money operator regulated by the Bank of Thailand.

Funds from digital asset sales will be transferred into the tourist wallet, enabling tourists to make payments at participating merchants that accept e-money.

Key Regulatory Requirements

The TouristDigiPay project will operate for a period of up to 18 months, with the following conditions:

  • Only licensed digital asset brokers, dealers, and exchanges integrated with licensed e-money operators are eligible to participate.
  • Operators must implement anti-money laundering (AML) protocols that are proportionate to the assessed risk level. These include:
    • Conducting know-your-customer and customer-due-diligence (KYC/CDD) checks on all users.
    • For monthly transactions exceeding THB 50,000 per person, verifying the source of the digital assets and assessing AML risk using internationally recognized blockchain forensic tools or equivalent procedures.
    • Suspending or rejecting services if digital assets are transferred from wallets flagged for AML concerns.
    • Ensuring that conversion between digital assets and fiat includes safeguards such as matching account names and returning digital assets only to the original wallet.
  • The following transaction limits apply to participants in the TouristDigiPay initiative:
    • Payments to small vendors are capped at THB 50,000 per month.
    • Payments to vendors who have completed the know-your-merchant (KYM) process are capped at THB 500,000 per month.
    • Reconversion of Thai baht into digital assets must not exceed the original value of the digital assets exchanged.

Outlook

Under the TouristDigiPay scheme, digital assets still cannot be directly used for payments. However, the initiative reflects the Thai government’s recognition of digital assets and its efforts to develop frameworks that facilitate their use in the economy.

The SEC is currently in the process of amending relevant regulations to support the TouristDigiPay initiative and anticipates the official rollout of the scheme in the fourth quarter of 2025.

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