Crypto Goes Tropical: Thailand Welcomes Tourist Spending In Bitcoin And More
Thailand is moving ahead with a plan to let foreign tourists spend cryptocurrency during their visits. The new scheme, called TouristDigiPay, will launch on August 18 and allow visitors to convert crypto into Thai baht for electronic payments. Related Reading: Bitcoin Miner Tied To Trump Spends $314 Million On Chinese Computer Chips The announcement comes […]
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Thailand has the right mix of ingredients for Bitcoin to succeed – a large number of foreign tourists, inflows of multiple foreign currencies and tech-friendly banks. What is the catalyst required for Bitcoin to succeed in Thailand? High dependence on tourism. Thailand is a tourist-friendly nation and tourism contributes to over 19% (directly and indirectly) of the country's annual GDP. Over 25 million tourists visit Thailand every year, spending in excess of USD 40 Bn in the country. Tourism and travel account for 6% of the country's direct employment and a significant portion of the....
Thailand seems to be interested in catching Japanese crypto holders’ attention via tourism. The country wants to establish a crypto-friendly touristic hotspot and the first targeted country is the nation of the rising sun. Program Aims to Add New Segments With ‘High Spending’ Per Bangkok Post, the Tourism Authority of Thailand (TAT) seeks to put the nation as the first to welcome crypto holders by targeting Japanese tourists in the early stage. The maneuver is given in the context of the pandemic that hit hard Thai’s tourism. The program looks forward to emphasizing....
Celsius CEO Alex Mashinsky sat down live at Miami’s Bitcoin 2021 Conference with Yahoo! Finance for a brief discussion on Celsius, Elon, and more. With a quick question out of the gate around Elon’s latest Twitter chatter, Mashinsky didn’t hesitate to share his opinion. ‘The Crypto Tourist’ “Elon is a tourist in crypto”, Mashinsky stated, […]
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and digital tokens through exchanges in Thailand will benefit from a 7% VAT exemption on such transactions. A decree published in the Royal Gazette on Tuesday enforced the tax break retroactively from April 1, 2022. It....
The Bitcoin scaling debate affects some businesses more than others, but few real-world businesses have the volume to watch Bitcoin’s momentum react to it like the tourist hotspot, the Pattaya Beer Garden. Bitcoin.com discussed adoption trends in Thailand with Peter Noid, the proprietor of this large and popular restaurant and bar located in Pattaya, a....