Thailand has announced a significant tax exemption for cryptocurrency sales aimed at strengthening its position as a global financial center.
Tax Benefits for Investors
The Thai Ministry of Finance has announced tax exemptions that will relieve individual investors from capital gains tax on profits from cryptocurrency sales. This measure applies to trades conducted through registered digital asset platforms from January 1, 2025, to the end of 2029.
Economic Implications of the New Policy
According to Deputy Finance Minister Julapun Amornvivat, the initiative aims to attract investment, fuel innovation, and eventually increase tax revenues. The exemption is expected to help raise GDP and generate at least 1 billion baht (approximately $30.7 million) in additional tax revenue over the medium term.
Tightening Control over Unlicensed Exchanges
At the same time, Thai regulators are tightening control over offshore crypto platforms operating without local licenses. In late May, the SEC announced it would block access to five exchanges, including Bybit and OKX, starting June 28.
The new tax law regarding cryptocurrencies in Thailand is set to bring significant changes to the regulation of digital assets and could stimulate economic growth in the country.
