Thailand launches 'Tourist Wallet', the Crypto Assets feature is still in the sandbox testing phase.

According to Techub News and CoinDesk, Thailand has launched a QR code payment "tourist wallet" for exchanging foreign currencies into Thai Baht, but the Crypto Assets exchange function will only be enabled after the regulatory authorities complete their review in mid-August.

The Bank of Thailand stated that the "Tourist Wallet" aims to address practical issues. Currently, cross-border QR code payments are interconnected only with 8 partner countries such as Singapore and Malaysia, and soon will be interconnected with China's payment system through UnionPay. Tourists can recharge their wallets through service provider counters, foreign debit and credit cards, or overseas bank transfers. The consumption limit applies to rules, with merchants equipped with card terminals limited to 500,000 Thai Baht (approximately 13,800 USD) per month, while small shops are limited to 50,000 Thai Baht. Cash withdrawals are prohibited, and accounts can only be closed through redemption.

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