Sandbox for testing cryptocurrency payments to open in Phuket

A sandbox for cryptocurrency payments will be launched this autumn on the island of Phuket in Thailand. This was announced by former Prime Minister Thaksin Shinawatra, as reported by the Bangkok Post.

In this regard, cryptocurrencies with a high level of risk will be excluded. According to the former official, Thailand is ready for a transition to digital assets. Negotiations are already underway with other ASEAN countries regarding opportunities to attract investments to the economy through cryptocurrencies.

Shinawatra added that stablecoins represent a new form of currency backed by assets such as gold or government bonds and should not be likened to gambling.

Earlier, we reported that the Thai police are searching for two Russians who attacked and robbed their compatriot, who had cryptocurrencies.