• The SEC is set to establish a Sandbox allowing tourists to exchange Digital Assets (DA) for Thai Baht to facilitate their spending during their visit to Thailand. This initiative comes in response to the growing popularity and increased ownership of DA worldwide, both in terms of the number of holders and value. The Sandbox project will last no longer than 18 months after receiving approval from the SEC.

• Foreign tourists entering the country will need to register to open an account with DA and e-Money businesses regulated by the SEC and the Bank of Thailand. This account will be specifically for exchanging DA for Thai Baht, which can then be used for purchases at stores via QR-Code or other specified electronic channels. It is evident that several guidelines have been established to mitigate risks, and the scope of services available to foreign tourists in the Sandbox is clearly defined.

• An important observation is that the source of DA will be verified to mitigate money laundering risks, and spending will only be allowed from the e-Money account. Direct use of DA as a means of payment for goods and services will not be permitted.