Thailand to postpone the airdrop plan for national digital currency.

According to BlockBeats news on October 23, the Thai Finance Ministry's Deputy Minister, Julapun Amornvivat, announced that the digital wallet plan, originally scheduled to be launched in February 2024, has been delayed as the development of the system requires more time. Julapun also stated that the Thai government hopes to have more time to ensure the security of the system supporting the digital grant wallet, while reiterating that the launch will still take place in the first quarter of 2024. Former Thai senator, Rosana Tositrakul, has expressed strong doubts about the project and called for the Election Commission to investigate the legality of the plan. As previously reported by BlockBeats on September 1, the ruling party in Thailand announced its collaboration with the Thai central bank to develop a blockchain-based digital wallet. Sources say that the infrastructure will take at least six months to launch. The KYC process will also charge each user 100 Thai baht. In addition, the plan requires approval from the Thai Securities and Exchange Commission. The plan is said to airdrop 10,000 Thai baht (approximately $285) in "Utility Tokens" to every Thai citizen aged 16 or above. However, the airdrop is not equivalent to legal Thai currency. Users can only use the digital tokens within a four-kilometer radius of their residence. The tokens are only valid for six months and cannot be converted into cash or used to pay off debts.