April

<div class="sg-post-des">
 Sansiri, one of the largest real estate firms in Thailand, once had Srettha Thavisin as CEO. The firm is known for backing crypto projects like XSpring. 
</div> 
<div class="cointelegraph"> 
 Thailand’s parliament on Aug. 22 voted for real estate tycoon Srettha Thavisin to be the country’s next <a rel="noopener noreferrer nofollow" title="prime" href="https://thebittimes.com/tag/prime.html">prime</a> <a rel="noopener noreferrer nofollow" title="minister" href="https://thebittimes.com/tag/minister.html">minister</a>. Thavisin is best known as former president and CEO of Sansiri, one of the largest real estate developers in Thailand, which also has some <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency background. 
 Thavisin, 60, was the only candidate brought to elections by the Pheu Thai Party, receiving 482 votes out of a possible 747 in Thailand’s parliament. 
 His victory could potentially have some implications for the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency industry in Thailand as his family company, Sansiri, was an active investor in the country’s digital asset industry. Thavisin quit as Sansiri CEO in April 2023 amid speculation that he would be named Thailand’s next PM. He also&nbsp;shed his 4.4% stake in Sansiri at the time. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/08/23/6d825d005730714403a606bc50d5ed39.webp"> 
 <figcaption style="text-align: center;"> Former Sansiri CEO Srettha Thavisin. Source: AP News 
 </figcaption> 
 </figure> 
 In 2021, Sansiri participated in a $225 million raise for a <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>-friendly investment management firm XSpring Capital. Subsequently, XSpring launched a fully integrated <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency trading platform in 2022. The firm plans to become a top-three company in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> exchange market by 2025. 
 Apart from backing major <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> projects in Thailand, Thavisin’s Sansiri is also known for issuing and distributing its own tokens through XSpring in 2022. Called “SiriHub Token,” the digital asset is part of a real estate-backed initial coin offering (ICO) which offered a total of 240 million tokens to the general public in 2022. 
 The Pheu Thai Party — which Thavisin joined in November 2022 — also previously proposed distributing some money to Thai citizens in case it wins the elections. The party specifically promised to give the country’s citizens 10,000 Thai baht ($285) in April 2023 and send the amount using digital currency. 
 As Thavisin’s government is expected to assume office by the end of September, it remains to be seen whether his crypto-related background would impact Thailand’s crypto policies. 
 Related: Thailand threatens Facebook over <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> scams and other fraudulent ads 
 Days ahead of the vote, Thavisin took to X (formerly known as Twitter) to stress that he was participating in the elections because he wanted to “improve the country and the economy.” He added: 
 <blockquote>
 “My enemies are poverty and the inequality of the people. My goal is the well-being of all Thai people.” 
 </blockquote> 
 The news comes a few months after Thailand’s cabinet decided to offer tax breaks for corporate income tax and value-added tax for companies that issue investment tokens. Announcing the initiative in March, deputy government spokesman Rachada Dhnadirek said that the government expects investment token offerings to generate 128 billion Thai baht ($3.7 billion) over the next two years. 
 Asia Express: China’s risky Bitcoin court decision, is Huobi in trouble or not? 
 <template data-name="subscription_form" data-type="defi_newsletter"></template> 
</div>

Thailand’s next prime minister Srettha Thavisin has crypto history

TheBitTimes

Other articles published on Aug 23, 2023

ARM’s IPO: Challenging the Dominance of AMD and Nvidia

SBF Surviving on Bread and Water; “Good,” Says Crypto Twitter

Litecoin Stabilizes Above $60 Support, But Trades In A Range

Mantan Pejabat OpenSea Didakwa Penjara Terkait Insider Trading NFT

Bitcoin’s Role in Personal Liberties Takes Center Stage in Robert F. Kennedy Jr.’s Presidential Bid

Ethereum Price Analysis : ETH Price At Risk Of Dropping To $900 If History Repeats

Join our free newsletter for daily crypto updates!