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Thailand tourism board may enter crypto sector with TAT coin

By Aaron Woolner

06:00, 29 September 2021

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 Wat Arun in Bangkok, Thailand
Wat Arun in Bangkok, Thailand – Photo: Shutterstock

The Tourism Authority of Thailand (TAT) is considering to foray into the crypto sector and launch its own digital token, the TAT Coin in conjunction with the country’s stock exchange. 

TAT governor Yuthasak Supasorn local media that the TAT is currently in discussions with the Stock Exchange of Thailand over the launch of the digital currency.

"We have to prepare digital infrastructure and digital literacy for our tourism operators in order to commence crypto tourism as the traditional business model might not be able to keep up with the new changes," Yuthasak told the Bangkok Post.

TAT targets crypto tourists

The plans are currently being checked to see if the TAT, which is a government entity, requires additional permission to launch a digital coin. 

Capital.com has yet to receive a reply from the TAT to confirm the story. 

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Yuthasak said TAT was targeting both leisure and business tourism with its focus on cryptocurrencies and is looking to develop the local market further by issuing non-fungible tokens on the Thai crypto exchange.

Bitcoin debit cards at Thai airports

Leisure travellers would be served by offering bitcoin debit card facilities at Thai airports. 

Thai authorities have had a mixed response to cryptos so far. The country’s Securities and Exchange Commission (SEC)  banned crypto exchanges from trading a range of assets including NFTs and meme coins in June. 

In July, the SEC had launched a criminal complaint against the global market-leading crypto exchange, Binance, for offering services in Thailand without a licence. 

Read more: Thai securities regulator bans NFTs and memecoins

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