Srettha Thavisin, a well-known real estate mogul, is set to become Thailand’s upcoming Prime Minister. He previously served as the CEO of one of the country’s major real estate companies and is also connected to the cryptocurrency sector.
Thavisin’s election as Thailand’s new Prime Minister marks a significant development. He held the position of president and CEO at Sansiri, a prominent real estate developer in the nation. Notably, he’s also actively involved in Thailand’s digital asset industry as an investor.
Pheu Thai Party to Bring Back Digital Wallet Program
On August 22, Srettha Thavisin was chosen as Thailand’s upcoming prime minister, securing 482 out of 747 parliamentary votes. He was the exclusive nominee from the Pheu Thai Party. Following approval from King Maha Vajiralongkorn, Thavisin will assume office as prime minister.
Thavisin resigned from his Sansiri leadership role in April amid speculation of his prime ministerial candidacy. He also sold his 4.4% stake in the company. Sansiri was involved in a $225 million capital raising for XSpring Capital, a crypto-friendly investment management firm, in 2021. Since then, XSpring launched a crypto trading platform with ambitions to become a top-three crypto exchange by 2025.
Reports mention that Thavisin’s campaign vowed to reintroduce a national “airdrop,” offering 10,000 Thai baht ($300) to every citizen aged 16 or older. This currency can be used within a four-kilometer radius of their homes and will be converted at designated banks.
Thavisin’s government is set to take office by the end of September. On Twitter, he assured citizens of his commitment to improving the nation’s well-being and economy, stating, “My enemies are poverty and the inequality of the people. My goal is the well-being of all Thai people.”
Thailand Welcomes Crypto
Thailand has been actively promoting the digital asset industry and has taken steps to attract investment in this sector. In March, the Thai government decided to provide tax incentives to companies that issue digital investment tokens. These incentives include tax breaks for corporate income and value-added tax.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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