PANews reported on January 20 that former Thai Prime Minister Thaksin Shinawatra said that the cryptocurrency sandbox is expected to be launched in Phuket in October, according to the Thailand Post. While discussing the ASEAN economy, Thaksin said that Thailand is more willing to promote the development of cryptocurrencies than any other country in the region, especially after US President-elect Donald Trump plans to adopt cryptocurrencies. He said that other countries in the region are also keen to hold talks with Thailand on cryptocurrencies, calling it an opportunity to inject money into the economic system.
Asked about his recent remarks inviting ASEAN countries to talks on the issue, Thaksin said such discussions were ongoing. He stressed that cryptocurrencies should be adopted quickly because delays could cause the best talent in the field to migrate to the United States. He noted that cryptocurrencies should not be confused with gambling, calling it a new form of money backed by assets such as gold or government bonds. He said these currencies, known as "stablecoins," are less risky than other currencies. Thailand will not accept high-risk cryptocurrencies, he said, and expects to launch a cryptocurrency sandbox involving the private sector in October.