Thailand Waives Capital Gains Tax on Crypto Sales 2025-2029 to Boost Financial Hub Status

Thailand has implemented a comprehensive tax exemption for cryptocurrency transactions, waiving capital gains tax for sales conducted through licensed digital asset platforms from 2025 to 2029. This decision, announced by the Ministry of Finance, is part of a broader strategy to enhance Thailand’s standing as a global financial center and an early adopter of digital asset regulations.

Under this new policy, individual investors will be exempt from paying taxes on profits from crypto sales, provided they trade through exchanges or brokers registered with the Thai Securities and Exchange Commission (SEC). The exemption period runs from January 1, 2025, to December 31, 2029. The government aims to support regulated crypto activity and align with global anti-money laundering standards set by the Financial Action Task Force (FATF). The measure is expected to attract investment, drive innovation, and ultimately increase tax revenue.

The Ministry of Finance anticipates that this exemption could boost GDP and generate at least 1 billion baht in additional tax revenue over the medium term. This growth is projected to come from increased crypto adoption and related fundraising activities. Crypto use in Thailand has surged in the past two years, both as an investment tool and a means of startup financing. The government recognizes crypto-based fundraising as a crucial application of blockchain innovation in the Thai economy.

This policy announcement follows recent discussions about allowing tourists to spend crypto while visiting Thailand, as part of a broader package of digital asset reforms. Concurrently, Thai regulators are intensifying enforcement against offshore crypto platforms operating without local licenses. In late May, the SEC announced plans to block access to five exchanges—Bybit, OKX, CoinEx, XT.COM, and another listing for Bybit—starting June 28. This decision comes after months of pressure on foreign trading platforms to comply with domestic registration requirements.

Some firms have already taken steps to align with local rules. For instance, a major exchange recently launched a regulated Thai subsidiary. Additionally, stablecoin giant Tether introduced its tokenized gold asset, XAUT, in the country via local exchange Maxbit. These developments underscore Thailand’s commitment to fostering a transparent and regulated digital asset market, positioning the country as a leader in the global digital economy.