Thaksin Shinawatra Advocates for Legalizing Online Gambling in Thailand

Thaksin Shinawatra, influential in Thai politics, advocates for legalizing online gambling, estimating it could generate 100 billion baht in annual tax revenue. He also supports cryptocurrencies, suggests Thailand's SEC be more digital, and is keen on using crypto payments in Phuket.

In a bold statement, Thaksin Shinawatra, a key figure in Thailand's political scene, has called for the legalization of online gambling, projecting potential tax revenues of up to 100 billion baht annually. His remarks come amid new government efforts to regulate the industry by controlling user access and revenue taxation.

Thaksin, a former prime minister, wields significant influence and supports expanding Thailand's financial acceptance of cryptocurrency, in line with early U.S. policies under President Trump. He emphasized the potential for stablecoin trades and crypto-based transactions, citing Phuket as a potential pilot project site.

The Thai government is considering reforms to capitalize on online gaming and crypto payments, maintaining a system that prevents underage gambling and monitors addicts, while seeking economic gains through these emerging platforms.

(With inputs from agencies.)