The Thailand Securities and Exchange Commission has launched the TouristDigiPay sandbox, a pilot framework to test the conversion of digital assets into Thai baht (THB) for foreign tourists to pay for goods and services in Thailand. The SEC has issued supporting regulations and begun accepting applications from digital asset business operators and electronic money (e-money) service providers, with services expected to start in the fourth quarter of 2025. Participation is limited to licensed digital asset exchanges, brokers, or dealers that can integrate with e-money providers so tourists can spend exchanged THB via nationwide Thai QR code scanning, and firms must obtain SEC approval before commencing services. Providers may serve only foreign tourists temporarily residing in Thailand and must conduct KYC/customer due diligence in line with Anti-Money Laundering Office requirements, while executing exchange transactions only within their licensed activities. Additional obligations include submitting requested data, verifying the source of digital assets exchanged into THB, reporting to the SEC, maintaining an exit strategy, and setting performance evaluation plans; the regulations were published in the Government Gazette and are effective from 24 September 2025. Applications are open from 25 September 2025 to 26 December 2025, and the SEC is also soliciting public comments on the project principles.

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