Thailand introduces five-year tax break to boost crypto industry

Thailand announces five-year tax exemption for cryptocurrency sales profits. This measure will be in effect from 2025 to 2029 and applies to transactions made through platforms licensed by Thailand's Securities and Exchange Commission. According to Deputy Finance Minister Julapun Amornvivat, the innovation is aimed at attracting investments and developing the digital economy.

The tax abolition should also make the country more attractive for crypto businesses and strengthen its position as a digital technology hub in Asia, the regulators say. At the same time, the government is tightening control over the industry by banning unlicensed exchanges and implementing international reporting standards. In May, the regulator already blocked several foreign platforms, including Bybit and OKX.

Additionally, authorities view cryptocurrency as a tool for project financing and tourism development. Simultaneously, Thailand is implementing data exchange systems with other countries to increase transaction transparency and prevent the use of crypto assets in fraudulent schemes.