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According to Techub News, the Bangkok Post reports that the Securities and Exchange Commission (SEC) of Thailand has collaborated with the Central Bank of Thailand to launch a sandbox program that allows foreign tourists to exchange digital assets for Thai Baht for consumption. All sandbox participants must comply with specific regulations, including eligibility criteria, scope of services, spending limits for tourists, and AML requirements. The framework is designed to ensure innovation and consumer protection in a tightly regulated environment. The service will operate in a controlled sandbox environment supervised by the SEC, the Central Bank of Thailand, the AML Office, and other regulatory agencies.
The SEC emphasizes that the sandbox is part of a broader effort to enhance the competitiveness of Thailand's tourism industry through digital finance, while ensuring the stability and security of the financial system.