Thailand To Waive Capital Gain Tax On Crypto Sales
Thailand has approved tax exemptions on income from cryptocurrency sales, including Bitcoin, for five years, effective from January 1, 2025, to December 31, 2029. The capital gains tax will be waived for sales made through licensed crypto asset service providers. This initiative aims to enhance Thailand's status as a global financial hub and promote cryptocurrency trading under the supervision of the Thai Securities and Exchange Commission (SEC), adhering to Anti-Money Laundering policies. The ministry estimates that crypto assets could contribute over 1 billion baht ($30.7 million) to the economy. Recent regulatory actions include blocking five global exchanges for operating without local licenses, while companies like KuCoin and Tether are expanding their presence in Thailand.
