Thailand’s Ministry of Finance has approved a bold five-year tax exemption on crypto capital gains, aiming to bolster its role as a rising hub in the global digital asset landscape.
Starting January 1, 2025, and running through December 31, 2029, individuals who sell cryptocurrencies like Bitcoin will be exempt from capital gains tax—but only if the transactions are carried out through platforms licensed by the Thai Securities and Exchange Commission (SEC). This regulation ensures that all qualifying trades remain within the government’s AML-compliant oversight, in line with Financial Action Task Force (FATF) standards.
Deputy Finance Minister Julapun Amornvivat emphasized that this tax relief is not just about incentivizing crypto trading—it’s part of a broader effort to solidify Thailand’s reputation as a forward-looking financial center with early regulatory clarity on digital assets. The move is also expected to invite more domestic and international activity within the bounds of Thailand’s regulated crypto economy.
Thailand Eyes Crypto Fundraising to Boost Economic Growth
The Ministry of Finance is betting on crypto not just as a trading asset, but as a powerful tool for national fundraising and innovation. In its latest statement, the ministry spotlighted the role of digital assets in fueling capital formation for emerging Thai ventures—particularly in tech and startup sectors where traditional financing methods may fall short.
According to projections by the ministry, the expanded use of crypto assets is expected to boost Thailand’s economy by at least 1 billion baht (approximately $30.7 million) in additional tax revenue over the medium term. This figure underscores the government’s view that crypto can be both a regulated financial instrument and an innovation driver.
This push toward deeper crypto integration also aligns with broader digital reforms announced in May. Among them: a plan to permit crypto-based spending by tourists, a move that could both modernize the travel experience and inject more digital liquidity into Thailand’s service economy.
Together, these measures represent a clear signal from Thai officials that they view the crypto sector as a legitimate—and strategically vital—part of the country’s financial future.
Thailand Moves to Block Unlicensed Crypto Exchanges
Thailand’s Securities and Exchange Commission (SEC) is tightening its grip on unlicensed crypto activity, moving to block access to five major global exchanges—including Bybit, OKX, CoinEx, and XT.COM. The decision, announced in late May, will take effect starting June 28 and applies to platforms that continue to serve Thai users without appropriate regulatory approval.
Regulators emphasized that the crackdown targets operations failing to comply with Thailand’s licensing framework. The move is part of a broader effort to ensure consumer protection and align local oversight with international financial standards.
Interestingly, while some exchanges are being forced out, others are doubling down on compliance. KuCoin, for instance, secured a license from Thailand’s SEC and launched a fully regulated local entity last week. Similarly, Tether has begun expanding its footprint in the country, rolling out its tokenized gold product—XAUt—on the Thai exchange Maxbit.
Quick Facts
- Thailand will exempt capital gains tax on crypto trades from 2025 to 2029, if done through licensed exchanges.
- The Ministry of Finance expects crypto to boost tax revenues by over $30 million.
- Tourism reforms will allow foreign visitors to spend using cryptocurrencies.
- SEC to block five major unlicensed exchanges; KuCoin and Tether remain compliant.
