There is NO reason to bring racist stereotypes into the conversation. The Thai government has many many faults, but being soft on child-sex is not one of them. Thai people love their children as much as anyone else in the world. In fact the United States has poured millions into countries like Thailand and Cambodia to conduct paedophile witch hunts which have railroaded a number of innocent people when they couldn't find the hoards of sex-fiends that people like you think are lurking in the shadows.
This is not to say that the story makes Thailand look good. The ruling elite have a strong tendency to blame many things on foreigners, and since coming out against Bitcoin will effect practically no one in Thailand (which is not exactly a hotbed of Bitcoin usage) they get to blame another imagined foreign threat to the Kingdom and take credit for saving the country. Remember, they made a similar stance against, Open Source Software, not long after the military coup not that many years ago (and like Obama in Egypt, the Bush administration illegally continued to give them military aide without anyone in America even noticing).