Thailand Sanctions Five-Year Tax Relief on Cryptocurrency Capital Gains

The Thai government has approved a tax exemption on the capital gains from digital asset sales, effective from January 2025 to December 2029, in a bid to promote Thailand as a Global Digital Asset Hub. This move is expected to stimulate economic activity and enhance the growth of the digital asset market. The Thai Revenue Department is also developing a Crypto-Asset Reporting Framework to enhance transaction transparency.

Despite stringent KYC policies restricting foreign investors from opening local crypto exchange accounts, prominent exchanges like Binance, KuCoin, and Upbit have recently established branches in Thailand. Furthermore, in July, the government plans to issue $150 million worth of tokenized government bonds, known as G-tokens, to help cover its budget deficit.