In addition to promoting Bitcoin ETFs, the Thai government is addressing illegal cryptocurrency operations, recently shutting down an unauthorized Bitcoin mining farm in Chonburi.

Thailand is exploring the introduction of Bitcoin exchange-traded funds (ETFs) on local exchanges to enhance investment opportunities in cryptocurrency.

On January 14, 2025, SEC Secretary-General Pornanong Budsaratragoon emphasized the need for adapting crypto regulations to align with global trends, aiming to protect investors while expanding their options.

The SEC is also considering allowing companies with strong credit ratings to issue stablecoins backed by corporate bonds, which would increase access to debt markets.

Despite advancements in cryptocurrency regulations, Thailand is actively cracking down on illegal betting platforms like Polymarket, which complicates law enforcement due to its anonymous and cross-border transactions.

On January 14, Thailand's Cybercrime Investigation Bureau stated that banning Polymarket would protect the public from online gambling risks and prevent exploitation for illicit activities.

Polymarket has maintained significant activity despite restrictions, reporting over $515 million in trading volume in the first 15 days of 2025, with its Super Bowl betting market alone reaching $1.12 billion.

As of November 2024, Thailand had approximately 270,000 active crypto trading accounts, indicating a significant rise in crypto adoption following Bitcoin's price milestone of $100,000.

According to the 2024 Crypto Adoption Index by Chainalysis, Thailand ranks 16th globally for cryptocurrency adoption, reflecting strong retail and centralized service sectors.

Thailand's digital asset market has gained momentum due to a global crypto rally, attracting major players like Binance, which launched Gulf Binance in January 2024.

Asia is rapidly emerging as a hub for cryptocurrency activities, with varying regulatory approaches among countries, as seen in Thailand's proactive stance.

As of January 16, 2025, Bitcoin is trading at $99,275, reflecting a 3.4% increase in the past 24 hours, showcasing the ongoing interest in the cryptocurrency market.