Former PM Thaksin Shinawatra calls for online gambling legalization and crypto-friendly policies to boost Thailand’s economy.
Thaksin Pushes for Legal Online Gambling
Former Thai Prime Minister Thaksin Shinawatra proposed legalizing online gambling, estimating it could generate over 100 billion baht ($2.89 billion) annually for the government. He also sought to legalize crypto despite the recent shutdown of Bitcoin mining farms for power theft.
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Cabinet Drafts Casino Legislation
Thaksin’s comments followed the Thai cabinet’s approval of a draft law to legalize casinos. He emphasized measures to control access, tax revenue, and mitigate gambling addiction.
Potential Economic Impact
Thailand’s 2-4 million online gamblers reportedly handle transactions totaling 500 billion baht yearly. Thaksin suggested a 20% tax rate could significantly bolster state revenues.
Crypto as an Economic Catalyst
Thaksin also urged Thailand’s financial institutions to adopt a pro-crypto stance, citing Donald Trump’s crypto-friendly policies in the US. He advocated for stablecoin trading and the use of cryptocurrency as payment in tourism hubs like Phuket.
Digital Economy Vision
Thaksin emphasized that embracing digital assets could enhance Thailand’s economic competitiveness, likening cryptocurrency to “just another currency in the world.”
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