Thailand’s Crypto Giveaway Delayed Due to Safety Concerns
Thailand’s highly anticipated “airdrop” of cryptocurrency will not be launched as scheduled on February 1, according to Deputy Minister of Finance Julapun Amornvivat. The government needs more time to develop a secure system for the giveaway, which will now be launched within the first quarter of 2024. The exact reason for the delay is unknown, and the government is still figuring out how to fund the initiative. Initially, Thailand’s newly appointed government planned to cover the expenses using the annual national budget. However, there have been calls for an investigation into the legality of the giveaway program, raising concerns about the origin of funds. The initiative, promised by Prime Minister Srettha Thavisin during his election campaign, is estimated to cost around $15 billion.
Hot Take: Thailand’s Crypto Giveaway Faces Delays and Criticism
Thailand’s planned cryptocurrency giveaway has hit a roadblock as safety concerns and funding issues delay its launch. The government needs more time to ensure a secure system for distributing the cryptocurrency tokens. While details about the giveaway remain scarce, there are growing concerns about the source of funds and the legality of the program. Critics argue that the scheme, promised by Prime Minister Srettha Thavisin during his election campaign, requires further scrutiny from authorities. Despite its promising prospects, the initiative has yet to materialize since Thavisin’s election in August 2023. With an estimated cost of $15 billion, Thailand’s crypto giveaway faces challenges in implementation and public perception.
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