{"id":17426,"date":"2023-08-31T20:16:55","date_gmt":"2023-09-01T00:16:55","guid":{"rendered":"https:\/\/demo2.dedicatedhost247.com\/crypto\/asia-express-cointelegraph-magazine-28\/"},"modified":"2023-08-31T20:16:55","modified_gmt":"2023-09-01T00:16:55","slug":"asia-express-cointelegraph-magazine-28","status":"publish","type":"post","link":"https:\/\/demo2.dedicatedhost247.com\/crypto\/asia-express-cointelegraph-magazine-28\/","title":{"rendered":"Asia Express \u2013 Cointelegraph Magazine"},"content":{"rendered":"


\n<\/p>\n

\n

Our weekly roundup of news from East Asia curates the industry\u2019s most important developments.<\/em><\/p>\n

Thailand\u2019s crypto UBI<\/h2>\n

Thailand has a national airdrop in the works under which every citizen 16 years and older receives 10,000 baht ($285).<\/p>\n

According to local news reports<\/a> on Aug. 30, Thailand\u2019s ruling Pheu Thai party will consult the Bank of Thailand in developing a \u201cutility type 1\u201d token necessary for the airdrop. The solution will be a Know Your Customer blockchain-based infrastructure that sources say will take at least six months to roll out. A 100 baht fee will also be charged per user for the KYC process. In addition, the solution will require the approval of the country\u2019s Securities and Exchange Commission.<\/p>\n

Real estate developer and crypto investor Srettha Thavisin was elected as Thailand\u2019s prime minister on Aug. 22. During campaigning, Thavisin promised to give each person 10,000 baht in basic income stimulus via \u201cdigital currency\u201d if elected into power. In 2021, Thavisin\u2019s firm, Sansiri, purchased a 15% stake in Thai asset tokenization provider X Spring for 1.6 billion baht ($45.7 million).<\/p>\n

\n

\n