Ex-Thai PM Thaksin Shinawatra Calls for Crypto Innovation and Sandbox Expansion

Former
Thai
Prime
Minister
Thaksin
Shinawatra
has
urged
the
government
to
embrace
the
potential
of
cryptocurrencies
and
expand
regulatory
sandbox
initiatives.
Speaking
at
the
Intercontinental
Hotel
in
Hua
Hin,
Shinawatra
highlighted
the
importance
of
keeping
up
with
the
rapidly
evolving
digital
economy.

“There
are
already
many
cryptocurrencies.
Some
people
say
that
in
the
future,
we
will
have
more
currencies
than
countries,”
Shinawatra
stated,
emphasizing
the
necessity
for
Thai
citizens
to
adapt
to
the
emerging
digital
finance
landscape.

Advocacy
for
Digital
Asset
Integration

While
Shinawatra
did
not
suggest
that
Thailand
should
purchase
cryptocurrencies,
he
encouraged
the
government
to
study
and
engage
with

digital
assets.
His
comments
align
with
Thailand’s
growing
regulatory
focus
on
the
crypto
sector.

In
August
2024,
the

Securities
and
Exchange
Commission
(SEC)
introduced
a
regulatory
sandbox
allowing
selected
service
providers
to
experiment
with
digital
assets
under
relaxed
oversight.
This
initiative
reflects
Thailand’s
broader
strategy
to
explore
the
economic
potential
of
blockchain
technologies.

Political
and
Economic
Impacts

In
a
bid
to
boost
the
economy,
the
Pheu
Thai
political
party,
which
has
connections
to
Shinawatra,
distributed
10,000
baht
(approximately
$280)
in
digital
cash
to
45
million
Thai
residents
in
July
2024.
This
campaign
promise
aimed
to
stimulate
local
economic
activity.

Simultaneously,
Thailand’s
financial
sector
has
been
advancing
its
crypto
capabilities.
In
September
2024,
Kasikornbank
became
the
country’s
first
licensed
crypto
custodian,
offering
secure
storage
solutions
for
digital
asset
businesses.
The
SEC
further
proposed
on
October
9
allowing
mutual
and
private
funds
to

invest
in
cryptocurrencies,
signaling
growing
institutional
acceptance.

International
and
Institutional
Developments

Cross-border
crypto
collaborations
have
also
expanded.
In
October
2024,
the
Bank
of
Thailand
partnered
with
the
Hong
Kong
Monetary
Authority
(HKMA)
to
pilot
tokenized
settlements
under
HKMA’s
Project
Ensemble,
marking
a
significant
milestone
in
cross-border
financial
innovation.

Meanwhile,
Thailand’s

One
Asset
Management
(ONEAM)
made
headlines
in
June
2024
by
launching
the
country’s
first
cryptocurrency-focused
exchange-traded
fund
(ETF).
The
Thai
SEC
approved
ONEAM’s
Bitcoin
ETF,
named
the
One
Bitcoin
ETF
Fund
of
Funds,
exclusively
targeting
institutional
investors
and
high-net-worth
individuals.

????
Thailand’s
former
Prime
Minister,
Thaksin
Shinawatra,
has
called
on
the
government
to
explore
the
potential
of
cryptocurrencies.#Thailand

#SEChttps://t.co/tUpYwMkwTq

—
Cryptonews.com
(@cryptonews)

December
15,
2024

Regulatory
Advancements
in
Digital
Assets

The
Thai
SEC
has
also
revised
its
regulatory
framework
for
digital
asset
investments.
Earlier
this
year,
the
agency
relaxed
restrictions
on
retail
investors
for
real
estate-backed
initial
coin
offerings
(ICOs)
and
infrastructure-backed
ICOs,
lifting
the
previous
300,000-baht
investment
cap
per
offering.

Additionally,
the
SEC
updated
criteria
for
establishing
custodial
wallet
providers,
enabling
them
to
serve
digital
asset
businesses.
These
adjustments
reflect
Thailand’s
commitment
to
fostering
a
secure
and
innovation-driven
crypto
environment.

Wall
Street
Pepe:
A
Community-Driven
Meme
Coin
Revolution

The
surge
of
new
meme
coins
in
the
cryptocurrency
market
has
created
opportunities
for
potential
gains.
However,
many
of
these
gains
are
often
reserved
for
insiders
due
to
market
manipulation
and
unfair
practices.
Wall
Street
Pepe
seeks
to
disrupt
this
trend
by
empowering
everyday
investors
through
a
community-centric
approach.

Shifting
Power
Back
to
the
People

Wall
Street
Pepe’s
mission
revolves
around
redistributing
market
power
to
the
community
through
its
dedicated
supporter
base,
the
WEPE
Army.
By
rallying
traders
around
its
mascot,
Wall
Street
Pepe,
the
project
aims
to
create
a
collective
of
market
movers
capable
of
influencing
the
meme
coin
space.

Tokenomics
Designed
for
Growth

Wall
Street
Pepe’s
token
distribution
reflects
its
community-first
philosophy.
A
total
of
20%
of
its
tokens
are
allocated
to
the
Frog
Fund,
another
term
for
its
presale
pool.
An
additional
12%
is
designated
for
staking
rewards,
while
15%
supports
trading
incentives.
The
largest
portion,
38%,
is
dedicated
to
marketing
efforts
to
ensure
sustained
visibility
and
growth.

By
limiting
the
presale
allocation
to
20%,
Wall
Street
Pepe
ensures
that
late
investors
also
have
a
chance
to
benefit
from
potential
gains.
This
equitable
distribution
structure,
paired
with
its
community-driven
narrative,
positions
Wall
Street
Pepe
as
a
promising
contender
among
emerging
cryptocurrencies.

Through
its
unique
approach,
Wall
Street
Pepe
seeks
to
redefine
the
meme
coin
space
by
fostering
inclusivity,
transparency,
and
community
empowerment.

Related
News