PUBLISHED: 5 Dec 2023 at 4:00 p.m.
Within this year, the government will send a email to the Council of State requesting legal counsel regarding the expenses for digital wallet loans.
After speaking with Prime Minister Srettha Thavisin about the law’s release, Deputy Finance Minister Julapun Amornvivat updated the internet on the status of the digital wallet borrowing costs yesterday.
When asked about the letter’s main subjects, Mr. Julapun responded that it would be about laws and regulations to make sure the 500 billion ringgit loan bill from the digital wallet scheme complies with the law.
The ministry still needs to add more information to the loan bill, such as details about the economic situation and the report about Gross Domestic Product ( GDP ), which were recently issued by the National Economic and Social Development Council, in order to ensure that all documents and references are accurate, he said, adding that” we have not yet sent the Loan Bill into the Council of State.”
He responded that the government would amend the costs and present it to the cupboard for approval after receiving a response from the Council of State.
The digital wallet payment bill will be presented to the Council of State for review if the government approves in order to consider its legal implications. The costs will be presented to the Lower House for discussion when the Council of State results it, he said.
” The entire procedure wo n’t take very long. According to Mr. Julapun, the modern pocket project will be completed by May of the following month.
Thais 16 years of age and older who earn less than 70, 000 ringgit per month and/or have bank payments totaling under 500,000 may be eligible for the 10, 000 Baht flyer. Based on these requirements, an estimated 50 million people—down from the initial 56 million —will get qualified. The digital currency, which will be based on blockchain technologies, can be used to purchase consumer goods in the neighborhood where the household registration address is located.