Thailand Opposition Leader To Do $300 Crypto Airdrop If Elected Prime Minister

April 8, 2023 1:06 pm Comments

It looks like the intersection between crypto and politics is getting bigger and bigger in some countries around the world.

The Thailand Opposition leader just announced that he would do a $300 crypto airdrop per citizen if he was elected as the prime minister.

There were also other political figures that made the same promise as it seems that the idea of an economic stimulus is not a new idea for the country.

The reason for this is that it could help alleviate the debt of the citizens which drew both support and criticism within the country.

The announcement to do this in the form is crypto, however, is quite the new idea as it has never been implemented on such a mass scale before. reports:

According to reports, the Thailand Opposition leader, Srettha Thavisin, has promised a $300 crypto airdrop per citizen if he was to be elected Prime Minister. Moreover, the Pheu Thai party could enact the promises of basic income if he wins the next general election set in May.

Thavisin has stated that the effort is devised to bring debt relief to the people of Thailand. Subsequently, they maintain some of the highest household debt in the region, with Thavisin setting to procure some sort of assistance. Thus, leading to his promise of the airdrop.

“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Bloomberg reported from Thavisin.

“The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and right economic growth.”

On the other hand, the Bank of Thailand had previously declared that Thai stable coins be illegal which indicates that the traditional financial system within the country is still very much against crypto.

Whether or not such a promise would actually help the Opposition leader win the election is still to be determined as many are unsure if the country has the capital to do such a large scale economic stimulus.

The economic after effects of such a decision are also unknown as there is always the possibility of inflation.

However, if it does become successful, investors and speculators expect to see this become more common in all future elections and it could certainly help spread mainstream adoption of crypto within the Southeast Asia region. concludes:

Thanakorn Wangboonkongchana, a minister in prime minister Chan-o-cha’s office and chief strategist in the United Thai Nation Party, said the budget would run to 500 billion baht ($15 billion) if distributed to all 50 million Thais.

He also said that creating a digital currency would be a significant challenge, with implications for the country’s entire financial system, and suspected that the policy was a marketing gimmick.

The move by Thailand comes as more and more Asian countries are striving to create a more friendly environment for crypto firms in a push to become global crypto hubs.

Just recently, it was revealed that the Monetary Authority of Singapore and the police have been working with lenders in the country to refine their approach to onboarding crypto service providers.

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