Thailand's cabinet exempts crypto gains from personal income tax through 2029 for trades on SEC-licensed exchanges, aiming to boost regulated trading and align digital assets with stock tax treatment.
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Thailand's cabinet approved a five-year exemption from personal income tax on cryptocurrency gains, provided the trades go through exchanges licensed by the Securities and Exchange Commission. The exemption runs from Jan. 1, 2025, to Dec. 31, 2029.
Anyone buying or selling Bitcoin (BTC), Ethereum, or other digital assets on a Thai SEC-licensed exchange during that window will not owe capital gains tax on those profits. Trades on unlicensed platforms, gains from foreign crypto ventures, and transactions that fall outside Thailand's regulatory standards remain subject to the standard progressive personal income tax rates, which reach 35%.
Deputy Finance Minister Julapun Amornvivat said the move is meant to steer trading toward regulated channels.
This is a key step in boosting Thailand's economic potential and a major opportunity for Thai entrepreneurs to thrive on the global stage.
Changpeng Zhao, former CEO of Binance, also welcomed the policy, noting that the exemption puts crypto on the same tax footing as stocks listed on the Stock Exchange of Thailand.
Because capital gains from cryptocurrency investments are already exempt from personal income tax, they are essentially placed on the same tax footing as stocks listed on the Stock Exchange of Thailand.
The exemption builds on earlier reforms. Thailand already removed the 7% VAT on the sale of cryptocurrencies and capped personal income tax at 15% for some profits from holding digital tokens.
The country has a sizable retail crypto base. A 2024 report from TripleA estimated 6.2 million Thai residents, or 9.3% of the population, own cryptocurrency. That adoption rate is among the highest in Southeast Asia.
Security concerns remain. Local exchange Bitkub recently faced a criminal complaint over a 1.7 billion baht hack that took place in May 2021. The case is still active.
The exemption is set to expire at the end of 2029 unless the government decides to extend or replace it.
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