Asia Plus Securities expects the new government to issue Type 1 utility tokens as digital handouts worth 10,000 baht each to Thais age 16 and older.
The new government is expected to issue utility tokens to support its digital wallet scheme, with the plan requiring the approval of the Bank of Thailand as tokens are currently prohibited for use as payment by the regulator. Asia Plus Securities (ASPS) expects the Pheu Thai-led government to issue Type 1 utility tokens as digital handouts worth 10,000 baht each to Thais aged 16 and older. The scheme is estimated to require a budget of 560 billion baht. The government is consulting with the Finance Ministry and the Securities and Exchange Commission about how to issue this type of token and determining the funding sources, said the brokerage. "The government is expected to issue the tokens for consumer purposes, and utility tokens cannot be traded on digital asset exchanges," ASPS said in a research note. Prime Minister Srettha Thavisin recently confirmed the digital wallets are expected to be launched at the beginning of next year.
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