Categories: MarketsMenafn

Thai Opposition Leader Pledges $300 Crypto Airdrop to Citizens

As the race for Thailand’s next prime minister heats up, Srettha Thavisin, the head of the opposition Pheu Thai Party, has made a bold promise to distribute 10,000 Thai Baht (approximately $300) in cryptocurrency to every citizen if his party comes to power after the general election in May. While some have praised the move as an innovative approach to economic stimulus, others have dismissed it as a mere marketing gimmick.

The Crypto Pledge: Aiming for Economic Relief and Growth In Thailand

Thavisin, a successful real estate mogul turned political candidate, has proposed the crypto airdrop as part of a basic-income-style economic stimulus package to help alleviate the burden of high household debt experienced by many Thai citizens. 

He believes that the current government’s approach to providing financial assistance, which he compares to “feeding IV drips with small money handouts,” is insufficient and does not promote healthy economic growth.

“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Thavisin said in a statement to Bloomberg. “The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the proper and right economic growth.”

Legal Hurdles and Financial System Implications

However, Thavisin’s proposal may face legal hurdles, as the Bank of Thailand declared Thai Baht stablecoins illegal in 2021. Thanakorn Wangboonkongchana, a minister in the prime minister’s office, warned that the airdrop proposal could have “major implications” for the country’s financial system, according to the Bangkok Post.

In addition to the legal and financial concerns, some critics question whether a crypto airdrop is the best use of resources, suggesting that the funds could be more effectively utilized in poverty alleviation programs. 

With recent polls indicating a close election race and the Pheu Thai Party garnering approximately 46% of the vote, the effectiveness of Thavisin’s crypto pledge as a campaign strategy remains to be seen.

Cryptocurrency’s Growing Role in Asian Elections

It is not the first time cryptocurrency has played a prominent role in an Asian election. For example, in South Korea’s closely contested March 2022 election, Conservative Party candidate Yoon Suk-Yeol, who ultimately became President, included cryptocurrency deregulation in his legislative proposals. This strategy helped him secure a victory with a less than 1% margin.

As the Thai general election approaches, it remains to be seen whether Thavisin’s promise of a crypto airdrop will gain traction with voters and contribute to a potential Pheu Thai victory. However, regardless of the outcome, it is clear that cryptocurrency is increasingly becoming a significant factor in political campaigns across Asia.

The post Thai Opposition Leader Pledges $300 Crypto Airdrop to Citizens appeared first on CryptoMode.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Crypto Liquidations Exceed $340M as Bitcoin Reaches New High

Over $340 million in crypto liquidations occurred within 24 hours after Bitcoin’s price spiked near…

2 hours ago

XRP Surges 31.9% in 24 hours After Gensler Announces Exit

The price of the XRP Ledger blockchain’s native token (XRP) has been rising over the…

14 hours ago

Momcozy Honored with Multiple International Awards

Momcozy, a global leader in maternal and infant care, has continued to impress with its…

17 hours ago

Local SEO Tampa Enhances Digital Marketing Services for Tampa Bay Small Businesses

Local SEO Tampa (https://localseotampa.com/), a trusted digital marketing firm in Florida since 2007, proudly expands…

17 hours ago

VAIOT Launches Legal Torch to Democratize Access to Affordable Legal Support

Birkirkara, Malta, 22nd November 2024, ZEX PR WIRE, VAIOT, a company providing AI-driven Legal Tech…

21 hours ago

Classic Watches: A Timeless Source in the Data-Driven Era and Why Dedondi is Leading the Way

Dubai, UAE, 22nd November 2024, ZEX PR WIRE, In today’s data-driven world, information has become…

22 hours ago