$300 Crypto Airdrop if Elected – Thai Prime Minister Candidate Promises Citizens

Thavisin says the measure will provide some economic relief to Thais that are trapped with some of the highest household debt in the region.

By Staff

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A candidate for Thailand’s prime minister has pledged to give every citizen 10,000 Thai Baht (roughly $300) in digital currency if his party forms the government after the country’s general election in May.

Srettha Thavisin, a former real estate magnate who is now running for office, promises to implement “digital currency” as a form of economic stimulus should his party, Pheu Thai, win the next election.

According to Thavisin, the policy will give some financial relief to Thais who are struggling with some of the highest household debt levels in the region.

“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Thavisin is quoted as saying. “The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and right economic growth.”

It has not been mentioned what tokens will be used for the airdrop. Thai baht stablecoins were ruled illegal by the Bank of Thailand, which serves as the country’s central bank, in 2021.

The airdrop proposal would have “major implications” for the entire country’s financial system, according to Thanakorn Wangboonkongchana, a minister in the prime minister’s office, as reported in the Bangkok Post.

Others cited by the Bangkok Post wonder if this is the best use of money rather than using it to fight poverty.

Recent polls indicate that the election will be closed; according to Reuters, Pheu Thai has received about 46% of the vote recently.

This is not the first election in Asia in which cryptocurrency has been heavily involved. The Conservative Party candidate Yoon Suk-Yeol, now President of South Korea, placed crypto deregulation on his list of legislative proposals in the country’s March 2022 election, one of the closest in the nation’s history, in order to defeat his rival and win office by less than 1%.

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