Thailand’s next prime minister Srettha Thavisin has crypto history
Thailand’s next prime minister Srettha Thavisin has crypto history

Thai Parliament August 22 voted Real estate tycoon Sretha Thavisin will be the country’s next prime minister. Thavisin is best known as the former president and CEO of Sansiri, one of Thailand’s largest real estate developers, who also has a background in cryptocurrency.

Thawesin, 60, was the sole candidate to be picked for the Pheu Thai party, taking 482 of the 747 votes possible in Thailand’s parliament.

His victory may have some impact on Thailand’s cryptocurrency industry, as his family company Sansiri is an active investor in the country’s digital asset industry.Tavisin Resign He became Sansiri CEO in April 2023 amid speculation that he would be named Thailand’s next prime minister.he still shed He held a 4.4% stake in Sansiri at the time.

Former Sansiri CEO Sretha Thavisin.Source: Associated Press News

In 2021, Sansiri participated in a $225 million funding round for cryptocurrency-friendly investment management firm XSpring Capital. Subsequently, XSpring roll out By 2022, it will be a fully integrated cryptocurrency trading platform. The company plans to become a top-three player in the cryptocurrency exchange market by 2025.

In addition to supporting major crypto projects in Thailand, Thavisin’s Sansiri is also known for issuing and distributing its own tokens through XSpring in 2022. Dubbed the “SiriHub Token,” the digital asset is part of a real estate-backed initial coin offering (ICO), supply A total of 240 million tokens will be issued to the public by 2022.

The Pheu Thai Party, which Taweesin joined in November 2022, also previously proposed distributing some funds to Thai citizens in case they win the election. The party specifically pledged to distribute 10,000 baht ($285) to the country’s citizens in April 2023, sending the amount using digital currency.

Since the Taveshin government expected Set to take office at the end of September, it remains to be seen whether his crypto-related background will affect Thailand’s crypto policy.

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Days before the vote, Taveshin stressed on X (formerly known as Twitter) that he was running because he wanted to “improve the country and the economy”.he Add to:

“My enemy is poverty and the inequality of the people. My goal is the well-being of all Thai people.”

The news comes months after the Thai cabinet decided to offer corporate income tax and VAT tax breaks to companies that issue investment tokens. Announcing the move in March, deputy government spokesperson Rachada Dhnadirek said the government expects the investment in token offerings to generate 128 billion baht ($3.7 billion) in proceeds over the next two years.

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