Former Thai PM Thaksin urges adoption of stablecoins to boost Thai income

Former Thai Prime Minister Thaksin Shinawatra stated that allowing stablecoins and other asset-backed tokens to be traded has "no risk" and urged regulators to legalize online gambling to increase revenue. He pointed out that the Thai government currently loses about $4 billion (100 billion baht) in online gambling tax revenue each year. The Thai cabinet has approved a draft of the "Entertainment Facilities Management Act" aimed at legalizing casinos and the gambling industry.