The opposition party Pheu Thai has made a bold promise ahead of the upcoming parliamentary elections in Thailand.
They have pledged to give each resident of the country 10,000 baht ($300) in cryptocurrency if they win the election.
This promise has generated a lot of buzz and excitement among the citizens, especially considering that the money will be paid out using blockchain digital wallets.
If the opposition party does come to power on May 14th, then over 55 million citizens aged 16 and older will be eligible to receive a total of $16.5 billion in cryptocurrencies.
Srettha Thavisin, one of the party’s prime ministerial candidates, has stated that the citizens will be able to receive their funds until January 1st, 2024, if the party wins the election.
The Pheu Thai party has also made several other promises in their campaign, including a significant increase in the minimum wage, support for farms, and a guarantee of a minimum monthly income for all citizens.
They have also promised to allocate around 500 billion baht ($15 billion) to the country’s economy and provide assistance to those struggling with debt.
Interestingly, in March, the Thai cabinet approved tax incentives for crypto companies raising funds in investment tokens.
This move signals the country’s growing interest in the cryptocurrency industry.
According to Finance Minister Arkhom Termpittayapaisith, the new cryptocurrency taxation policy in Thailand will apply to all digital asset market participants issuing investment tokens.
Overall, the upcoming parliamentary elections in Thailand have become a significant point of discussion, with the Pheu Thai party’s promises of cryptocurrency payouts and other economic reforms generating considerable interest among the citizens.