The government of Thailand voted in favor of Srettha Thavisin (candidate of the Pheu Thai Party) to become the country’s next Prime Minister. The 61-year-old has interacted with the cryptocurrency industry since the company he was in charge of was an active investor in the digital asset investment management firm XSpring Capital.

Thailand has been quite hesitant regarding how to approach the sector over the years., which could change under the rule of the new leader.

A Political Newbie but not a Crypto Newbie

Thavisin, who received 482 votes out of a possible 747, was elected as the 30th Prime Minister of Thailand earlier this week. He now needs the signature of King Maha Vajiralongkorn to officially step into office. Upon winning the majority of the vote, Thavisin stated:

“I feel greatly honored to be elected as the 30th prime minister of Thailand. I would like to thank every Thai, coalition parties, honorable members of the House of Representatives, every senator who joined the vote today. I will try my best in doing my duties tirelessly to elevate Thais’ lives.”

It is worth mentioning that Thavisin does not have rich experience on the political scene. He comes from the business sector as the former CEO of the real estate giant Sansiri. He is familiar with the crypto field since his company participated in a $225 million fundraiser for the digital asset management firm XSpring Capital. 

“As a real estate company, we understand traditional finance is evolving, and the future calls for the de-intermediation between consumer and project fi