Thailand Bets on Crypto: No Capital Gains Tax Till 2029

Thailand has approved a new capital gains tax exemption for crypto transactions, extending the relief through the end of 2029.

The Cabinet-backed measure, proposed by the Ministry of Finance, eliminates personal income tax on profits from the sale of digital assets but only when the transactions are conducted through regulated platforms such as licensed exchanges, brokers, or dealers.

These platforms must operate under the framework of Thailand’s 2018 Digital Asset Business Decree and be overseen by the Securities and Exchange Commission.

Deputy Finance Minister Julapun Amornvivat described the decision as a "full-speed ahead" moment for the nation’s digital strategy. “This is a key step in boosting Thailand’s economic potential,” he stated, emphasizing the opportunity it presents for local entrepreneurs to compete globally.

The tax exemption is designed to enhance transparency in crypto trading, foster technological innovation, and stimulate broader economic growth. Officials estimate it could generate more than 1 billion baht (roughly $30 million) in tax revenue over the medium term by increasing legal trading volumes and attracting new investment.

Thailand has been actively developing a digital-friendly regulatory environment. In early 2024, the country scrapped its 7% value-added tax (VAT) on crypto capital gains. Earlier this year, the Securities and Exchange Commission also revealed it was considering allowing domestically issued Bitcoin ETFs, a potential game-changer for retail and institutional investors alike.

At the same time, authorities have moved to tighten oversight of unregistered crypto platforms. In May, regulators announced plans to block access to major offshore exchanges, including Bybit, CoinEx, and more, for failing to secure proper authorization to serve Thai users.

Looking ahead, Thailand’s Revenue Department is preparing to adopt the OECD’s Crypto-Asset Reporting Framework, which aims to standardize global reporting requirements for digital assets and improve transaction traceability.

With this latest policy, Thailand continues to walk a fine line: encouraging innovation and investment, while tightening guardrails to ensure long-term market integrity.