Thailand's recent decision to eliminate capital gains tax on crypto earnings has attracted global investor attention. This development creates legal clarity and positively impacts sentiments in the digital asset world.
Tax Exemption: Details of the Reform
The Thai government has officially eliminated the capital gains tax on profits earned from cryptocurrency trading. This applies to both individual and institutional investors in Initial Coin Offerings (ICOs) and those trading through authorized exchanges. This reform is seen as a step towards promoting transparency and legitimacy in the market.
Impact on the Crypto Market and Resilient Projects
The elimination of the capital gains tax has fostered optimistic sentiments among investors. Many altcoins, such as NEAR and OKB, have shown resilience even amidst market volatility. Meanwhile, Qubetics stands out for its approach to improving cross-border financial operations, drawing attention to its forthcoming launch.
Prospects for Qubetics and Other Altcoins
Qubetics is currently in the final stage of its presale, having reached Phase 37, and has already raised over $18 million. The reduction of total token supply to 1.36 billion and an increase in public allocation to 38.55% underscore the growing interest in the project among investors.
The abolition of the capital gains tax on cryptocurrency in Thailand could reshape the market and attract new investors. Resilient projects like Qubetics, NEAR, and OKB are poised to leverage these changes for further growth.
