Key Insights
- Thailand will exempt capital gains tax on crypto trades made through licensed platforms from January 1, 2025, to December 31, 2029, aiming to become a global digital asset hub.
- The measure promotes regulated trading under the Thai SEC and aligns with FATF AML standards, while blocking unlicensed exchanges like Bybit and OKX.
BANGKOK (MarketsXplora) — Thailand’s government has approved a five-year exemption on capital gains taxes for cryptocurrency transactions carried out through licensed digital asset platforms, a move officials say will help the country become a global hub for digital finance.
In a statement issued on Tuesday, Thailand’s Ministry of Finance confirmed that the tax break will apply to crypto sales conducted from January 1, 2025, through December 31, 2029. The measure covers individual investors who trade through exchanges, brokers, or dealers registered under the country’s Securities and Exchange Commission (SEC) in accordance with Thailand’s 2018 Digital Asset Business Decree.
Deputy Finance Minister Julapun Amornvivat hailed the Cabinet’s decision as a key part of Thailand’s broader effort to position itself at the forefront of the global digital asset economy. “Full speed ahead! The Thai government is accelerating efforts to position Thailand as a global digital asset hub,” Julapun said in a translated social media post.
Thailand Crypto Tax Exemption to Attract Global Investors
The exemption means that capital gains from the sale of digital assets — including Bitcoin and other cryptocurrencies — will not be subject to personal income tax during the five-year window, provided the trades are executed through SEC-licensed platforms.
According to Julapun, the policy is aimed at promoting transparent and regulated digital asset trading, fostering innovation in financial technology, and stimulating both domestic economic activity and foreign investment. The government projects the measure could generate more than 1 billion baht (approximately $30 million) in tax revenue over the medium term by boosting participation in the local crypto market.
The Ministry also underscored the importance of aligning the country’s crypto sector with international standards, stating that all activity under the exemption must comply with Anti-Money Laundering (AML) guidelines laid out by the Financial Action Task Force (FATF).
The move comes amid increasing global competition for crypto-friendly tax jurisdictions. Southeast Asian neighbour Vietnam recently passed legislation to formally define cryptocurrencies, effective from early next year. Other countries such as Singapore, Malaysia, and the United Arab Emirates impose no capital gains tax on individual crypto investors, while several offshore jurisdictions — including the Cayman Islands, British Virgin Islands, Bahamas, and Vanuatu — already offer zero capital gains tax environments.
In Europe, investors in Germany and Portugal can avoid capital gains tax altogether by holding their digital assets for more than 12 months. In contrast, Brazil recently ended its tax exemption and imposed a flat 17.5% tax on crypto gains.
Thailand’s proactive stance is designed to steer local investors toward regulated domestic platforms, amid rising concerns over unlicensed offshore exchanges. In late May, the Thai SEC ordered access blocks against five major global crypto exchanges — Bybit, OKX, CoinEx, XT.COM, and Bybit (listed twice) — citing unauthorized operations within Thailand. The ban is scheduled to take effect from June 28.
Big Names Are Moving In — And Fast
The crackdown on unregulated platforms coincides with growing interest from licensed digital asset firms. KuCoin, one of the world’s largest crypto exchanges, recently acquired a local operating license and launched a Thai subsidiary in compliance with the SEC’s framework. Stablecoin issuer Tether also expanded its footprint in the country by introducing its tokenized gold digital asset, XAUT, via a listing on the Thai exchange Maxbit in mid-May.
Thailand’s Finance Ministry has also floated proposals to allow crypto usage among tourists as part of broader regulatory reforms aimed at integrating digital assets into the mainstream economy.
With the five-year tax holiday now formalized, Thai officials hope the country will not only attract global crypto entrepreneurs but also empower local innovators and reinforce confidence in the legitimacy and oversight of its digital asset sector.