Former PM Thaksin Shinawatra discussed plans to regulate online gambling in Thailand, aiming to boost tax revenue and control access with innovative measures.
Former Prime Minister Thaksin Shinawatra revealed that the government was exploring ways to regulate access to online gambling and generate tax revenue from it.
"Online gambling involves 2 to 4 million Thai users, with total savings of 300 billion baht and annual gains and losses reaching around 500 billion baht," Thaksin stated in a speech.
He added, "If we can impose a 20% tax, we could collect over 100 billion baht per year."
Despite most forms of gambling being illegal in Thailand, the practice remains widespread. Thaksin and his allied governments have repeatedly advocated for legalizing gambling to boost employment, tourism, and state revenue, emphasizing the vast amounts of money currently lost to unregulated markets.
Thaksin also mentioned plans for an identification system to manage online gambling access. This system would prevent underage participation and enable monitoring of gambling addiction. "We could implement something like a passport to regulate who can participate," he said, though he provided no further details.
In addition, Thaksin urged Thailand’s financial institutions to embrace cryptocurrency. He highlighted the pro-crypto stance of incoming U.S. President Donald Trump, particularly his appointment of crypto deregulation advocate Paul Atkins to lead the U.S. Securities and Exchange Commission.
He suggested that Thailand’s Securities and Exchange Commission (SEC) adopt a more digital-friendly approach, such as allowing the trade of stablecoins—cryptocurrencies backed by assets.
The Thai government, Thaksin noted, is already considering permitting cryptocurrency as a payment method, with Phuket being eyed as a potential pilot site.
"There’s no risk involved—it’s just another currency in the global system," Thaksin said.
Read related article: Government To Choose Location of Thailand’s Casinos
Comentarios