Thailand’s Parliament Picks Pro-Crypto Candidate to Be the New Prime Minister
Thailand’s parliament has chosen Srettha Thavisin, a local business magnate behind one of the country’s biggest real estate firms, as the country’s next Prime Minister. During his campaign, Srettha notably pledged to give a $300 crypto airdrop to all citizens aged 16 and older if elected and is known to be pro-crypto.
Who is Srettha Thavisin?
Srettha Thavisin, the candidate who promised every citizen above 16 years old a $300 crypto airdrop, has been elected the next Prime Minister of Thailand. The move marks the end of months-long uncertainty in the Southeast Asian country following the May elections.
Alongside his involvement in politics, Srettha is primarily known as the leader of one of the biggest property firms in Thailand. The 61-year-old business magnate was chosen by the Pheu Thai party to lead efforts to stimulate the country’s economy and address one of the world’s largest inequality gaps.
“I’m doing this because I want to improve the country and the economy. I’d like to emphasize again. My enemy is people’s poverty and inequality. My goal is a better livelihood for all Thai people.”– Srettha tweeted days before the vote.
Before foraying into politics, Srettha was a well-known CEO of the local real estate developer Sansiri, which was also an active participant in the nation’s crypto sector. Two years ago, Sansiri acquired a 15% stake in Thai digital asset service provider XSpring, which manages a crypto brokerage platform with Krungthai Bank.
In 2022, Sansiri announced the launch of a SiriHub Token on XSpring, a real estate investment trust-like (REIT) solution that offers dividends from Sansiri Campus, one of the developer’s major endeavors.
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Srettha’s Promise of a $300 Crypto Airdrop
Among the broader crypto space, Srettha is best known for his bold promise, wherein, if elected, he would provide a national digital asset airdrop to every Thai citizen of 10,000 Thai baht ($300). In particular, the airdrop would be distributed to each Thai citizen 16 years and older, though it can only be spent within 4 kilometers of their home.
However, it remains uncertain whether the airdrop will happen. Thanakorn Wangboonkongchana, a minister in Thailand’s prime minister’s office, previously raised concerns about the proposal and requested additional details.
He also said that “creating a digital currency would be a major challenge with implications for Thailand’s entire financial system,” the Bangkok Post reported.
With the airdrop, Srettha and Pheu Thai party hope to spur cryptocurrency and blockchain innovation in Thailand. Earlier this year, the country’s cabinet announced it had agreed to offer tax breaks for local digital token issuers.
Would Srettha and the Thai government proceed with the proposed airdrop? Let us know in the comments below.