🤔Thailand: Regulator Approves 5-Year Tax Exemption on Crypto Capital Gains for Merchants

🤔Thailand: Regulator Approves 5-Year Tax Exemption on Crypto Capital Gains for Merchants

Thailand is making progress toward its goal of becoming a regional hub for digital assets.

➡️Previously: Capital gains from the sale of crypto assets were subject to a 15% personal income tax.

➡️Now: Following a decision by the Thai cabinet, these gains will be exempt from taxation between January 2025 and December 2029. Meanwhile, the Thai Revenue Department is implementing the Crypto-Asset Reporting Framework (CARF), which will enable the automatic global exchange of information on digital assets, further enhancing transaction transparency.

➡️However, due to strict KYC policies, foreign investors residing in Thailand cannot open accounts on local crypto exchanges.

➡️Overview: In recent months, several major exchanges have established operations in Thailand, including Binance, KuCoin, and Upbit. By contrast, Bybit, OKX, and CoinEx have been banned for operating without proper authorization, raising regulatory concerns about potential money laundering risks.

#news #Asia #crypto

🏦 Payouter.com — reliable payment partner in the CIS and 🇮🇳India: Intent, UPI P2C conversion 54% by FTD