Thai opposition party leader makes election promise to provide digital currency to all citizens | coindesk JAPAN | Coindesk Japan

Thailand’s prime ministerial candidate has promised all citizens a digital currency of 10,000 baht ($300) if his party wins power in the general election scheduled for May.

Real estate tycoon Srettha Thavisin has promised a basic income-style economic stimulus with a “digital currency” if his political party “Pheu Thai” wins the next election, according to the Bangkok Post.

Thavisin said the measure would bring economic relief to Thai citizens, who have the highest household debt among neighboring countries.

“Our country has been hit economically for the last eight years, with people earning less and spending more,” Thavisin said, citing a Bloomberg report. “The current administration has been giving out small benefits like intravenous drips. It’s not the right way, it’s not the right way to stimulate economic growth.”

A spokesperson for Phue Thai did not immediately respond to a request for comment on Twitter about what tokens would be used for the airdrop.

In 2021, the Bank of Thailand, the central bank, declared stablecoins pegged to the baht illegal.

The Bangkok Post quoted Thanakorn Wangboonkongchana, Minister of the Prime Minister’s Office, as saying the airdrop proposal would have a “huge impact” on the financial system across the country. Others questioned whether it would make sense to use the money in this way instead of putting it into poverty alleviation, he said.

Recent polls show Pheu Thai has around 46% support, and the election looks set to be close, according to Reuters.

This is not the first Asian election in which crypto assets (virtual currencies) have played an important role.

In the South Korean presidential election held in March 2022, candidate Yoon Seok-yeol pledged to deregulate crypto assets and won the presidential election by a narrow margin of 0.73% over his opponent.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
| Image: Bangkok, the capital of Thailand (Shutterstock)
｜Original: Head of Thailand’s Opposition Party Promises $300 Crypto Airdrop if Elected Prime Minister: Report