Thailand Exempts Crypto Capital Gains From Tax Through 2029

Thailand's Cabinet has approved a capital gains tax exemption for cryptocurrency transactions, effective until December 31, 2029, as the country accelerates efforts to establish itself as a global digital asset hub.

The Ministry of Finance proposed the measure, which exempts capital gains from digital asset sales from personal income tax, provided transactions are conducted through licensed businesses regulated by Thailand's Securities and Exchange Commission under the 2018 Digital Asset Business Decree.

"Full speed ahead! The Thai government is accelerating efforts to position Thailand as a global digital asset hub," Deputy Finance Minister Julapun Amornvivat said in a social media post Tuesday, The Block reported . "I believe this is a key step in boosting Thailand's economic potential and a major opportunity for Thai entrepreneurs to thrive on the global stage."

The policy aims to promote transparent digital asset trading, support technological innovation, and stimulate economic growth. Amornvivat said the measure is projected to generate over 1 billion baht ($30 million) in tax revenue over the medium term while energizing Thailand's crypto market, attracting foreign investment, and boosting domestic consumption.

Thailand previously waived its 7% value-added tax on crypto capital gains in February 2024, building on the country's comprehensive approach to digital asset regulation.

The Southeast Asian nation positions itself among the first countries worldwide to implement clear laws and tax regulations governing digital assets. Thailand's revenue department is also preparing to implement the OECD's Crypto-Asset Reporting Framework to increase transparency and accountability in digital transactions.

The tax exemption comes as Thailand pursues a dual regulatory approach, combining crypto-friendly policies with strict enforcement against unauthorized platforms. In May, the Securities and Exchange Commission announced plans to block five major exchanges - Bybit, 1000X, CoinEx, OKX, and XT - from serving Thai users without proper authorization.

Earlier this year, the SEC announced it was considering allowing locally issued Bitcoin ETFs to be listed on Thai exchanges amid rising global competition for crypto investment products.