Bangkok Opens Five-Year Tax Holiday for Crypto Traders

Bangkok has thrown new weight behind its digital-asset ambitions, carving out a five-year capital-gains tax holiday for Thais who sell cryptocurrencies such as Bitcoin through locally licensed exchanges.

The break begins on 1 January 2025 and runs through the end of 2029, Deputy Finance Minister Julapun Amornvivat said in a ministry release on Tuesday.

Officials framed the move as part of a broader push to brand Thailand a regional finance hub and an early mover on clear rules for digital assets. All transactions must still flow through platforms vetted by the Securities and Exchange Commission and comply with anti-money-laundering standards set by the Financial Action Task Force.

The ministry expects the policy to stimulate fund-raising via token offerings and, over the medium term, lift economic output enough to add at least 1 billion baht (about US$31 million) in extra tax receipts—even after the exemption.

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The friendlier stance comes alongside other crypto-centric reforms, including a plan announced in May to let tourists spend digital coins inside the country. Regulators remain selective, however: the SEC recently moved to block overseas exchanges Bybit, OKX, CoinEx and XT.com for operating without local licences, with the ban set to take effect on 28 June.

Meanwhile, big names are lining up to enter the market legally. KuCoin just launched a licensed Thai subsidiary, and stablecoin giant Tether listed its tokenised-gold product on Bangkok-based Maxbit in May—signs that the kingdom’s new tax window could quickly attract fresh digital-asset traffic.

Alexander Stefanov

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