Thailand to Target Cryptocurrency Holders in Plan to Revive Tourism Sector

Thailand to Target Cryptocurrency Holders in Plan to Revive Tourism Sector

The Tourism Authority of Thailand (TAT) is set to target cryptocurrency holders in a bid to revive the country’s tourism sector, which was heavily affected by the COVID-19 pandemic. According to the Bangkok Post, the plan will target Japanese tourists initially, as these are considered to be the top holders of bitcoin. The news outlet quotes data from Dalia Research from 2018, which showed 11% of Japanese owned cryptoassets, while the global average was 7%. The cryptocurrency space has been growing over the last few years, with the price of bitcoin recently jumping from around $11,000 in October of last year to a new all-time high above $58,000 this month, before its price corrected. Yuthasak Supasorn, governor of the TAT, was quoted as saying: The TAT is reportedly studying the feasibility of adding cryptocurrencies as a payment option at tourism destinations, with plans to discuss with the country’s central bank, the Bank of Thailand, and with tourism operators, new practices for the tourism revival plan. Supasorn pointed out that the use of cryptocurrency in the country will, however, have to …
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