Thailand Introduces 18-Month Pilot Program for Tourists to Convert Crypto to Baht

Thailand's Crypto Initiative: Thailand has launched an 18-month pilot program allowing foreign tourists to convert cryptocurrencies into Thai Baht for local payments, aiming to enhance tourism and support the crypto market.

Conversion Limits: The initial conversion limit is set at $550,000 to mitigate money laundering risks, with potential reassessment of this limit after the pilot period, according to Finance Ministry officials.

Tourism Decline: The country has experienced a 6% drop in foreign tourist arrivals in the first seven months of 2025 compared to 2024, prompting a revised target of 32 to 34 million tourists for the year.

Market Revenue Projections: Despite the decline in tourism, the Thai crypto market is projected to generate approximately $793.6 million in revenue this year, with a slight growth forecast for the following year.