Head of Thailand’s opposition party promises to airdrop $300 in cryptocurrency if he wins the election

Real estate mogul Srettha Thavisin said he would create an economic stimulus package with a basic income mechanism and the use of digital currency

07.04.2023 - 14:45

333

2 min

What’s new? A contender to be the prime minister of Thailand and major real estate owner Srettha Thavisin has promised to airdrop 10 000 Thai baht (~$300) in cryptocurrency to every citizen if his Pheu Thai party wins the general election in May and forms a new government. He added that he would launch an economic stimulus package with a basic income mechanism and the use of digital currency. The politician said the measure would improve the economic situation of Thais, who are “trapped with some of the highest household debt in the region.”

Bangkok Post’s material

What else is known? Thavisin noted that over the past eight years, Thailand has experienced an economic crisis with declining incomes and rising costs. He said the current government is only providing citizens with “small money handouts,” which is not conducive to the country’s economic growth.

For his part, Thanakorn Wangboonkongchana, a government spokesman, said Thavisin’s proposal would have “major implications” for the country’s entire financial system.

Coinbase CEO calls for the election of pro-crypto lawmakers

Brian Armstrong’s statement came after the SEC sent the exchange a notice of possible violations of securities laws

Read further

Last September, the Securities and Exchange Commission of Thailand (SEC) banned local crypto companies from providing staking and lending services to customers. The need for restrictions was attributed to foreign companies’ liquidity problems, which had been observed for several months.

Author: