Thailand is launching a pilot project in Phuket that will enable tourists to use Bitcoin for payments.
Speaking at a seminar organised by the Marketing Association of Thailand, Thailand Deputy Minister and Finance Minister, Pichai Chunhavajira, said it would test cryptocurrency transactions in the hope that it would make it easier for foreign tourists to pay for goods and services, reports Live Bitcoin News.
Chunhavajira said legislation was already in place and that participants would need to register their Bitcoin through licensed Thai exchanges and verify their identity.
Once registered, Bitcoin payments will be automatically converted to Thai baht at the time of transaction, according to local news outlet, Thaiger.