The Securities and Exchange Commission (SEC) in Thailand collaborated with the Ministry of Finance, the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports to jointly launch “TouristDigiPay”. It allows foreign tourists to convert their cryptocurrencies into Thai baht for electronic payments during their visit.
Thailand Launches TouristDigiPay
On August 18, the Deputy Prime Minister, Mr. Pichai Chunhavajira, revealed that the project will simplify the use of digital assets in daily life while also allowing more options for foreign tourists. It does not allow direct payment with crypto; instead, it requires converting it into Thailand’s national currency to use it for payment of goods and services. This move mitigates the risk of price volatility for merchants.
The entire process will be handled by SEC authorities and e-money service providers under the supervision of the Bank of Thailand (BOT). The project is scheduled for an 18-month trial period, starting in Q4 2025.
How To Use Digital Assets For Payment in Thailand?
Upon arrival in Thailand, complete KYC to open a 2-part account.
Digital Asset Account (Open an account with a digital asset business operator).
Tourist Wallet Account (Open an account with an e-money provider).
Sell digital assets through the specified channel. When the transaction is successful, the digital assets will be transferred in Thai baht to the Tourist Wallet.
For spending under the TouristDigiPay Sandbox, tourists can scan the QR code available at various merchant stores and pay via smartphone applications. Merchants will receive payment for goods and services in Thai baht only.
Ms. Pornanong Busaratrakul, Secretary-General of the SEC, stated, “The TouristDigiPay project is an extension of the existing ecosystem between the digital asset trading system under the supervision of the SEC and the electronic payment system (e-money) under the supervision of the Bank of Thailand.”
“This initiative includes appropriate risk mitigation and a user identity check (KYC/CDD) process in accordance with the criteria of the AMLO and related agencies for digital asset businesses and e-money service providers,” she added.
Thailand Increases Global Competition in Crypto
With its newly formed Sandbox of TouristDigiPay, the country is modernizing the digital assets space. It also creates opportunities to attract foreign investment in its local region. The Royal Thai Government stated that it also promotes the development of innovation and the country’s financial infrastructure to support the creative and safe utilization of digital assets in the traditional economic system with a robust regulatory framework.
In a groundbreaking revelation, 21Shares announced a significant reduction in the management fees for its Bitcoin Ethereum Core ETP (ABBA). In addition, the ETP provider listed ABBA on the Xetra exchange, effective March 12, 2025, aiming to make crypto investments more affordable and accessible.
Notably, 21Shares’ ABBA offers investors a cost-effective way to invest in both Bitcoin and Ethereum, with the added security of being fully backed by these two leading cryptocurrencies. Let’s now unveil how the latest development will provide advanced investment opportunities in Bitcoin and Ethereum.
21Shares Lowers ABBA’s Management Fees and Lists on Xetra
According to a press release, 21Shares, one of the world’s largest ETP providers, announced the reduction of management fees for its Bitcoin and Ethereum Core ETP (ABBA) to 0.49%.
Significantly, the fee reduction coincides with the listing of ABBA on the Xetra exchange, which took effect on March 12, 2025.
Bitcoin price consolidates above the $84,600 on Sunday, April 20. Having closed eight consecutive sessions above the $80,000 mark, on-chain data trends suggest BTC market outlook for the week ahead remains bullish despite regulatory pressures on Coinbase.
Oregon State to Sue Coinbase as Bitcoin Price Holds Above $80,000 for Consecutive Days
Oregon Attorney General Dan Rayfield has filed a securities enforcement action against Coinbase, alleging that the exchange facilitated the sale of unregistered crypto assets, exposing investors to significant risk.
In the lawsuit, Oregon state alleges that Coinbase has encouraged the sale of unregistered cryptocurrencies to people in Oregon exposing residents to risk of pump-and-dump schemes and fraud.
“After building trust with Oregon consumers, Coinbase sold high risk investments without them being properly vetted to protect consumers Oregonians lost money, and we believe Coinbase should be held accountable and take steps to protect consumers.”
The complaint accuses Coinbase of misleading consumers in Oregon by offering high-risk digital assets without sufficient oversight.
In response, Coinbase’s Chief Legal Officer, Paul Grewal, called the suit a “desperate scheme” and “a giant leap backwards” in crypto policy progress.
Despite this legal headwind, Bitcoin has remained resilient. Following a sharp decline to $74,300 on April 9, triggered by China’s new tariffs on U.S. tech, BTC swiftly rebounded after the U.S. Consumer Price Index for March came in lower than expected.
Bitcoin price action, April 20, 2025 | Source: Coingecko
Bitcoin price is trading at $84,500 at press time on April 20, having closed above $83,000 for eight consecutive trading sessions.
This steady uptrend, even in the face of a fresh regulatory attack, suggests that the market sees the lawsuit as isolated to Coinbase—not a major threat to Bitcoin’s near-term price prospects. With continued institutional interest and technical strength holding above key support, BTC price appears poised to maintain positive momentum in the week ahead
BTC Showing Resilience to U.S. Pressures
Bitcoin’s recent price action showcases strength relative to U.S. equities, particularly in the tech sector.
While flagship stocks such as NVIDIA and Microsoft grapple with declining investor sentiment, Bitcoin continues to draw inflows and sustain support.
US Tech Stocks Heatmap, April 20| Source: TradingView
NVIDIA shares dropped over 7% this week following a $5.5 billion charge related to China export compliance. The erasing billions in market capitalization for adjacent US tech stocks including Microsoft, Tesla, and Apple.
Against this backdrop, Bitcoin has appreciated nearly 12% since April 12.
More so, Lower-than-expected jobless claims last week increased pressure on the Fed to maintain a hawkish stance—yet BTC has continued its upward trajectory, bucking the risk-off trend.
This decoupling signals renewed investor conviction in Bitcoin as a long-term macro asset, especially as U.S. fiscal policy and central bank dynamics introduce heightened volatility to traditional markets.
Investors Pull 14,000 BTC from Exchanges in the Last 8 Days as BTC Sets Up Local Bottom
A critical on-chain indicators supporting the current BTC rally is the notable drop in exchange-held Bitcoin.
Data from CryptoQuant shows that more than 14,000 BTC have been withdrawn from centralized exchanges since April 12, aligning with the day Bitcoin reclaimed the $80,000 level.
Bitcoin Price vs. BTC Exchange Reserves, April 2025 | Source: CryptoQuant
These outflows suggest increasing long-term conviction among holders, reducing available supply for trading and heightening the potential for price appreciation. Historically, sustained withdrawal activity often marks local bottoms and preludes major bullish cycles.
The drop in exchange balances comes at a time of increased spot demand—especially with platforms like Charles Schwab signaling intentions to enter direct crypto spot trading.
As regulatory uncertainty begins to decouple from Bitcoin’s price performance, investors appear to be front-running the next wave of institutional participation.
In conclusion, while the Oregon lawsuit against Coinbase may create noise in the short term, Bitcoin’s structural and technical foundation remains intact. A continued consolidation above $83,000—paired with supply contraction and strong macro divergence—puts the $90,000 and $100,000 targets well within reach for Q2.
Bitcoin price is consolidating below a descending trendline resistance near $85,489, with short-term support from the 4-day SMA at $84,632. As see in the Bitcoin price forecast chart below, BTC has formed a coiling pattern with higher lows and marginally lower highs—often a prelude to a decisive breakout.
On April 20, BTC closed at $84,594, holding above the critical $84K level for the eighth consecutive session, suggesting persistent underlying demand.
Bitcoin Technical Analysis Today
The Average Daily Range (ADR) remains muted at 3.06, indicating consolidation but also priming BTC for a potential expansion in volatility.
Meanwhile, the bullish BBP (Buy Balance Power) reading at 1,553.76 reinforces near-term strength, showing that buying momentum is outpacing sell pressure. Volume has declined modestly, but the broader context of consistent closes above $83,000 reflects solid market absorption.
Bitcoin price forecast today leans bullish as the 4-day SMA trends above price, creating a compression zone between it and the 60-SMA. A daily candle close above $85,500 could confirm a breakout, targeting $88,000 short term. Failure to hold $84,000 would re-expose $82,300 as interim support.
Purpose Investments has received regulatory approval to launch Canada’s first XRP ETF. This new product will offer direct exposure to XRP and begin trading on June 18.
Additionally, the OSC will allow customers to hold this product in registered accounts, allowing them to pay substantially lower taxes on gains. This regulatory breakthrough is heartening, as Canada’s new PM is a Bitcoin critic.
The Ontario Securities Commission (OSC), Canada’s top regulator, is allowing users to hold this ETF in registered accounts. Under Canadian law, this means that customers could pay substantially lower taxes on these assets.
“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem. We’re proud to continue pushing the boundaries of what’s possible in the space,” claimed Vlad Tasevski, Purpose’s Chief Innovation Officer.
For the last few years, Canada has positioned itself as a crypto leader, launching the first crypto ETF in North America four years ago.
However, a prominent Bitcoin critic became Prime Minister this March, potentially disrupting the nation’s policies. In other words, it’s a very good sign that the OSC approved an XRP ETF under these circumstances.
Hopefully, this will help encourage the SEC to move forward with a similar product in the US.
BlackRock, the largest asset manager in the US, still hasn’t filed for a spot product based on XRP, but prominent analysts believe it will do so soon.
Btw, I still fully expect BlackRock to file for spot sol & xrp ETFs…
As leader in both spot btc & eth ETFs, it would make *zero* sense to cede other top crypto asset ETF categories to competitors.
Related, I also fully expect BlackRock to file for index-based crypto asset ETF.
At this time, it’s impossible to predict when it’ll win approval, but the US will be the third nation in the hemisphere to offer it at the earliest. Canada and Brazil may remind the US that it needs to catch up to stay on the market’s cutting edge.
