On June 17, the Thai government gave the green light to a plan that looks like a billionaire’s dream: a tax exemption to make Thailand the world’s next Digital Asset Playground. “Crypto paradise,” anyone?
The Deputy Minister of Finance, Mr. Julapun Amornvivat (he’s the guy you want to know if you’re into crypto), made the announcement. He called it a masterstroke to pump up investments, get the economy buzzing, and secure long-term growth. What’s next? A nationwide neon sign saying, “Welcome Crypto Investors!”?
“This tax adjustment will enhance the growth of Thailand’s digital asset market, related businesses, and token-based fundraising.”
Thailand Gives Traders a Tax Break – Now That’s the Ticket!
In a note shared with CryptoPotato, Thailand’s top crypto exchange Bitkub spilled the beans: Starting in January 2025, through to December 2029, traders can sell their digital assets without the pesky 15% personal income tax. That’s right, no more giving away your lunch money to Uncle Sam—or, you know, Thailand’s version of him.
Previously, selling crypto was like walking into a tax collector’s lair—15% withheld just like that. Mr. Amornvivat, ever the optimist, also mentioned that Thailand’s Revenue Department is working on a Crypto-Asset Reporting Framework (CARF). Translation: They’re building a system to track crypto transactions globally, because why not make things a bit more transparent? Everyone loves transparency… right?
Big names like Binance, KuCoin, and Upbit have set up shop in Thailand, rubbing their hands together in anticipation. But, don’t get too excited—foreign investors can’t just waltz in and start trading. The KYC (Know Your Customer) rules are tighter than a drum. So, unless you’re Thai, don’t bother trying to open an account. Sorry!
In a move that screams “we’re serious about digital assets,” Thailand’s government is also issuing $150 million worth of G-tokens (aka tokenized government bonds) in July. Apparently, they’re trying to patch up a budget deficit with crypto. And who’s surprised? It’s 2025—anything goes!
Also, don’t get your hopes up about using crypto on vacation in Phuket. Back in 2024, they talked about letting tourists use Bitcoin to pay for piña coladas, but as of now, it’s all crickets. Digital payments have been outlawed by the central bank since 2022. So much for that dream!
Vietnam Joins the Crypto Race
Meanwhile, Vietnam is also jumping into the digital deep end. On June 14, the National Assembly of Vietnam approved a new law regulating the crypto industry. This law, which comes into effect in 2026, officially categorizes cryptocurrency, making it official: Vietnam is staking its claim as a crypto hotspot. Move over, Silicon Valley!
As they roll out the regulations, it looks like Vietnam is ready to follow Thailand’s lead, adding some serious digital muscle to their economy. We’ll see if the Vietnamese government can offer better deals, or maybe even let tourists use crypto in their own version of Phuket. The possibilities are endless… or, at least, that’s the dream.
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2025-06-18 09:40