The Pheu Thai-led government will consult the Bank of Thailand over the proposed use of the Utility Token Type 1 as a means of payment for the Pheu Thai party’s “digital wallet” scheme.
An informed source in the party said that it is now obvious that utility tokens, which are used to access a particular product or service within a blockchain-based ecosystem, are likely to be used as a means of payment for the “digital wallet” scheme. Since such tokens are not accepted by the central bank as a legal means of payment for goods or services, certain restrictions stipulated in the Digital Assets Executive Decree will have to be amended.
The source pointed out that there is no need enact a new law, just an announcement from the Securities and Exchange Commission (SEC) will suffice.
The source also noted that to work out a blockchain ecosystem to support the “digital wallet”…
