Key Highlights:
- Thailand will waive capital gains taxes on crypto trades through licensed platforms from 2025 to 2029.
- The move aims to attract global investors and strengthen Thailand’s position as a crypto hub.
- Limitations remain for international users due to platform access restrictions.
Tax Exemption for Licensed Crypto Transactions
Thailand’s Cabinet has approved a new tax policy eliminating capital gains taxes on crypto sales made through licensed platforms from January 1, 2025, to December 31, 2029. Deputy Finance Minister Julapun Amornvivat emphasized the policy’s strategic goal: positioning Thailand as a global financial center for digital assets.Expected Economic Boost and Regulatory Framework
Officials estimate this initiative could increase Thai tax revenues by at least $30.7 million. Analysts believe the potential impact is far larger, especially with Thai crypto holders already managing $180 billion in assets. The legislation applies only to transactions conducted on licensed platforms overseen by the Thai SEC, ensuring compliance with anti-money laundering standards.International Participation Challenges
Despite the progressive tax policy, restrictions around platform access could limit international participation. Archer Wolfe, cofounder of MohrWolfe, pointed out that access to platforms like Bitkub is often restricted to Thai nationals, depending on fluctuating regulatory decisions.Part of Broader Crypto-Friendly Strategy
The tax policy complements other crypto-forward measures, such as allowing tourists to spend crypto through systems that automatically convert it to Thai baht for merchants. Cities like Chiang Mai and Phuket are also emerging as Web3 hubs, reinforcing the country’s digital asset ambitions.
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