Bangkok, Aug. 19 -- The Thai government plans to launch the "TouristDigiPay" programme to stimulate tourism by allowing foreign visitors to convert digital currencies into the Thai baht for payments.

The initiative comes as Thailand's tourism sector faces a notable downturn this year, driven largely by a decline in arrivals from China, The Nation reported.

Under the new regulations, foreign tourists wishing to convert digital assets into the Thai baht for spending must open an account with a digital asset business and an e-money provider, both of which are regulated by the SEC and the Bank of Thailand (BOT) respectively.

The scheme will operate within a regulatory 'sandbox' to ensure proper oversight and risk management, particularly t...