Thailand Launches National Crypto Sandbox

Thailand’s Securities and Exchange Commission (SEC) and the Bank of Thailand have introduced a new nationwide cryptocurrency sandbox program aimed at foreign tourists.

The initiative will allow visitors to convert their digital assets into baht for spending across the country, marking a major step in merging tourism with digital finance.

The public hearing on the proposed digital asset sandbox highlights Thailand’s commitment to driving crypto adoption, boosting innovation, and supporting its broader economy. Tourists will be able to exchange cryptocurrencies via licensed digital asset platforms and use the converted funds through regulated e-money service providers for goods and services nationwide.

“This crypto sandbox expands upon former PM Thaksin Shinawatra’s original Phuket-only proposal,” said Nirun Fuwattananukul, CEO of Gulf Binance. “What sets this initiative apart is its national scope and the formal support of the country’s top financial regulators.”

Unlike the earlier concept, the new framework offers structured oversight from agencies including the SEC, the central bank, and the Anti-Money Laundering Office. Services under the sandbox will operate in a controlled environment and remain limited to foreign tourists who are either visiting or temporarily residing in Thailand.

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Participating exchanges, brokers, and dealers must hold valid SEC licenses and pass an approval process. Once approved, they can operate for up to 18 months, with possible extensions. Direct crypto payments will not be allowed—only baht converted from digital assets can be spent via compliant e-wallets.

The sandbox comes with firm regulations on service eligibility, transaction scope, spending limits, and anti-money laundering safeguards. It represents a significant step toward integrating crypto into Thailand’s financial ecosystem while maintaining consumer protections.

The SEC emphasized the sandbox is part of a broader national effort to strengthen Thailand’s competitiveness in digital tourism, promote financial innovation, and ensure stability within the financial system.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.