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In a bold step to cement its reputation as a global financial hub for digital assets, Thailand’s Ministry of Finance has officially approved a five-year capital gains tax exemption on cryptocurrency transactions executed through licensed crypto asset service providers.
The tax waiver, which will be effective from January 1, 2025, to December 31, 2029, is aimed at promoting regulated crypto trading while reinforcing Thailand’s leadership in the region’s digital finance space.
“We want Thailand to be at the forefront of digital innovation and secure, regulated financial growth,” said Deputy Finance Minister Julapun Amornvivat in a statement released Tuesday.
Regulated Growth, Global Vision
The new tax policy comes amid broader financial reforms to encourage innovation while staying aligned with global compliance frameworks. The Thai Securities and Exchange Commission (SEC) will supervise all licensed crypto activity, ensuring strict compliance with AML (Anti-Money Laundering) regulations outlined by the Financial Action Task Force (FATF).
While the tax break incentivizes growth, it does not give free rein to unregulated players. In late May, Thailand’s SEC moved to block five global crypto exchanges – including Bybit and OKX – due to their lack of valid local licenses. Enforcement begins June 28, 2025.
Economic Impact and Crypto’s Role in Innovation
The Finance Ministry estimates the exemption could boost Thailand’s economy and increase tax revenue by at least 1 billion baht ($30.7 million) in the medium term. Officials also noted the importance of cryptocurrencies as fundraising tools, highlighting the role of digital assets in financing innovation and new business models.
Thailand’s crypto-forward policies stand in contrast to moves in countries like Brazil, which recently ended its crypto tax exemption and imposed a flat 17.5% tax on gains.
Tourism Meets Tokens
Further underlining its crypto ambitions, Thailand’s government announced plans in May to enable crypto payments for tourists, another step in integrating digital assets into mainstream commerce and cross-border spending.
Meanwhile, major players are entering Thailand’s regulated crypto scene. KuCoin recently launched a locally licensed subsidiary, and Tether introduced tokenized gold assets through local exchange Maxbit.
Global Implications
Thailand’s move sends a strong signal to institutional investors and multinational crypto platforms: regulated innovation is welcome, but rules must be followed. The tax exemption provides breathing room for compliant players to invest, expand, and operate in Southeast Asia’s second-largest economy.
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