Cryptocurrency in Thailand: From Bond to Bitcoin

Fast forward to 2018, Thailand seems to be shooting into the crypto era with innovative volition.

Popularly known as "James Bond Island", the location that put Thailand on the pop culture map has become a major tourist attraction.

The vacation experience, beautiful coastlines, and culture aren't all Thailand has to offer.

Until recent years, Thailand had been the world's leading exporter of rice.

While the official currency of Thailand is the Baht, cryptocurrencies are gaining a strong foothold within the nation, prompting The Bangkok Post's 2017 article, titled "Bitten by the Bitcoin Bug".

In 2013, CNBC headlined a story, "Bitcoin Banned in Thailand", explaining how a "Prominent bitcoin exchange" closed its doors following the Bank of Thailand's insinuation that cryptocurrency was illegal.

"The SEC Thailand encourages access to funding for businesses, including high potential tech startups, and realizes the potential of ICO in answering startups' funding needs."

It is therefore clear that, in contrast to its more restrictive Asian neighbors, Thailand displays a much more accommodating approach to ICOs and cryptocurrency.

In the same month, Ethereum's Vitalik Buterin and OmiseGo had "Fruitful discussion(s) with SEC of Thailand about ICO's and exchanges".

In the meantime, next time you're in beautiful Thailand, why not try out Bangkok's 80-year old noodle shop? It accepts Bitcoin.