BREAKING NEWS! has been acquired by VC firm Morningstar Ventures. Read more

$3,129.40 0.62%
ETH · 7w

Cryptocurrency exchange Bitkub wants Thailand to promote “cryptourism”

The Tourism Authority of Thailand (TAT) is planning to launch its own cryptocurrency token called TAT Coin, as part of its “cryptourism” campaign— an initiative aimed to attract some of those wealthy crypto investors, who can add to the country’s GDP.

Jirayut Srupsrisopa, founder and CEO of the cryptocurrency exchange Bitkub has urged Thailand’s authorities to launch the TAT coin, as per a report by Bangkok post.

It is worth noting that Thailand’s tourism sector is responsible for nearly 20 percent of the GDP before the pandemic. According to Srupsrisopa, cryptocurrency holders could transform Thailand’s economy if they settle in the country.

TAT has been in discussions with the Thailand Stock Exchange regarding the issuance of TAT Coin and is now awaiting approval from the Thai government. “Private sectors are ready to provide digital infrastructure, but we’re just waiting for the government to press the button by enacting laws, regulations or even policies to help facilitate digital asset markets. Our national GDP could grow six times if we can strengthen this market,” he said, as quoted by Bangkok Post.

Srupsrisopa disclosed that the private cryptocurrency industry is willing to back the TAT coin. He, however, said that for that to happen, the government has to set up policies required to promote access to the cryptocurrency market.

Further, the CEO of Thailand’s homegrown cryptocurrency exchange also expects the Thai GDP to grow by over 600 percent—only if the government gives the cryptocurrency market the support it needs.

Meanwhile, Yuthasak Supasorn , Governor of the TAT, pointed out the need to examine the regulatory issues such as the risk of cybercrimes before the launch of TAT coin. “Due to the TAT’s status as a state enterprise, there are a lot of regulatory issues we need to discuss with related parties before implementation. And there are also other preventive measures against cybercrimes and customer prot...

Continue on
Recent News
ETH +0.62% · · 7h

ERC-20 tokens as dividends paying shares

I recently challenged myself to implement a dividend paying ERC20-token on Ethereum using solidity. I was working on a dapp that would also use the same ERC20-token for governance (more on that here)…
ETH +0.62% · · 22h

Solana's Many Red Flags

The best way to start and get scholarships. Learn and share information about education, career and life.