Crypto News: Head of Thailand’s Opposition Party Promises $300 Crypto Airdrop if Elected Prime Minister: Report

Local stakeholders call the move a “marketing gimmick” while others say it’s the most efficient way to distribute economic stimulus.

A contender to be the prime minister of Thailand is promising every citizen 10,000 Thai Baht (approximately $300) in digital currency if his party forms a government following a general election scheduled for May.
The Bangkok Post reports that real estate mogul turned candidate Srettha Thavisin promises a basic-income style economic stimulus package via “digital currency” should his party, Pheu Thai, win the next election.
Thavisin says the measure will provide some economic relief to Thais that are trapped with some of the highest household debt in the region.

“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Thavisin is quoted by Bloomberg as saying. “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.”
A Phue Thai spokesperson did not immediately return a request for comment via Twitter on what tokens will be used for the airdrop.
In 2021 the Bank of Thailand, the nation’s central bank, declared Thai baht stablecoins to be illegal.
The Bangkok Post quotes Thanakorn Wangboonkongchana, a minister in the prime minister’s office, as saying that the airdrop proposal would have “major implications” for the entire country’s financial system.

This is an automated news feed of The Up Report, not edited by Upreport team.

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