Thaksin Shinawatra, former Prime Minister of Thailand, recently emphasized the need for the Thai government to study cryptocurrencies and pursue sandbox experimentation during a lecture in Hua Hin. He pointed out the global trend towards digitization and noted that it is crucial for Thailand to understand digital assets, rather than rushing to buy them. Shinawatra remarked on the increasing number of cryptocurrencies, suggesting that the future may see more currencies than countries. He also raised concerns about potential trade tariffs under the incoming Trump administration as additional motivation for exploring the digital economy. In August 2024, Thailand's SEC permitted select service providers to experiment with digital assets, aiming to foster innovation in a relaxed regulatory environment. Moreover, initiatives from the Pheu Thai political party offered financial assistance to millions of residents, and Kasikornbank began providing custodial services for digital assets. Efforts to advance institutional involvement in cryptocurrency continued with a proposal from the SEC that aimed to facilitate mutual and private funds' engagement in the crypto space. Lastly, in October 2024, the Bank of Thailand collaborated with the Hong Kong Monetary Authority on a digital currency project.

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