Thailand's Ministry of Finance has announced a tax exemption on capital gains from cryptocurrency sales, effective from January 1, 2025, to December 31, 2029. This decision, made public by Deputy Finance Minister Julapun Amornvivat, will apply to transactions conducted through licensed crypto asset service providers. The move is part of a broader strategy to position Thailand as a leading financial hub for digital assets while promoting compliance with international Anti-Money Laundering policies.
According to Amornvivat, the tax exemption aims to enhance cryptocurrency trading in Thailand, and the ministry projects it could generate up to 1 billion baht (around $30.7 million) for the economy over time. This initiative aligns with Thailand's recent regulatory changes, which also include plans to facilitate cryptocurrency spending for tourists.
In a contrasting development, the Thai SEC recently blocked five global exchanges from operating due to a lack of local licenses. Other crypto companies, notably KuCoin and Tether, have been expanding their activities in the region, with KuCoin launching a regulated subsidiary and Tether introducing its tokenized gold digital asset on a local trading platform.
According to Amornvivat, the tax exemption aims to enhance cryptocurrency trading in Thailand, and the ministry projects it could generate up to 1 billion baht (around $30.7 million) for the economy over time. This initiative aligns with Thailand's recent regulatory changes, which also include plans to facilitate cryptocurrency spending for tourists.
In a contrasting development, the Thai SEC recently blocked five global exchanges from operating due to a lack of local licenses. Other crypto companies, notably KuCoin and Tether, have been expanding their activities in the region, with KuCoin launching a regulated subsidiary and Tether introducing its tokenized gold digital asset on a local trading platform.
