Thaksin Shinawatra, a prominent Thai political figure, has advocated for the legalization of online gambling and more favorable crypto regulations, proposing that these measures could significantly enhance the country's economy.

At a Bangkok event, Thaksin, who retains substantial influence in Thai politics despite not holding an official government position, contended that online gambling could yield up to 100 billion baht (around 2.89 billion USD) annually for the government.

This proposal follows the Thai Cabinet's approval of draft legislation to legalize casinos, marking a step towards comprehensive gambling reform.

Thaksin highlighted that although online gambling is technically unlawful in Thailand, it is prevalent, with millions of Thais spending large sums on gambling each year.

He estimated that Thailand's online gambling sector currently involves two to four million users, producing about 300 billion baht in savings and 500 billion baht in yearly gains and losses.

Thaksin proposed that a 20% tax on online gambling could generate over 100 billion baht in annual revenue for the government.

He also suggested strategies for industry regulation, including the introduction of a digital ID system to monitor gambling platform access, reduce underage gambling, and address addiction issues.

This system could operate similarly to a passport, although Thaksin did not elaborate on its implementation.

While gambling is largely illegal in Thailand, it remains a contentious topic, with supporters claiming that legalizing and regulating it could generate jobs, draw tourists, and increase state revenue.

Thaksin's political legacy aligns with similar reform efforts, as he has promoted economic policies designed to expand revenue sources and enhance living standards.

Alongside advocating for gambling reform, Thaksin also expressed support for a more progressive cryptocurrency stance.

He noted the global rise in digital currency acceptance and cited U.S. President Donald Trump’s pro-crypto stance as a model for Thailand to emulate.

Thaksin urged Thailand's Securities and Exchange Commission (SEC) to adopt a more digital-friendly approach, enabling the trading of stablecoins and asset-backed cryptocurrencies.

Thailand is already contemplating cryptocurrency integration into its financial system, with Phuket designated as a potential pilot program site.

Thaksin assured the public that cryptocurrencies pose no inherent risk and are merely another form of global currency.

As Thailand considers legalizing online gambling and embracing cryptocurrency, Thaksin’s statements contribute significantly to ongoing debates about the future of Thailand's economic strategies and its role in the global financial landscape.