Thailand Approves Crypto Tax Break to Boost Innovation

Thailand is taking a big leap forward in crypto. In a move that could reshape the country’s digital asset landscape, the Thai cabinet has approved a personal income tax exemption on profits made from cryptocurrencies and other digital assets.

Deputy Finance Minister Chulaphan Amornvivat announced on his personal X account, calling it a major step toward Thailand’s goal of becoming a digital asset hub. 

The Ministry of Finance’s plan is designed to bring more blockchain companies into Thailand, boost crypto trading activity, and drive long-term economic growth through innovation.

From January 1, 2025, anyone making profits from selling cryptocurrencies like Bitcoin or Ethereum, through platforms regulated by the SEC, won’t have to pay personal income tax on those gains. This tax exemption will run until December 31, 2029.

Chulaphan, who also represents Chiang Mai under the Pheu Thai Party, shared the official update, saying: “I have good news to tell you! Today, the Cabinet has approved tax measures to promote the Digital Asset Hub as proposed by the Ministry of Finance, focusing on exempting personal income tax for profits from the sale of digital assets (Capital Gains) made through operators under the supervision of the SEC from January 1, 2025 – December 31, 2029.”

He added, “Promote transparent trading. Support technology and innovation. Stimulate the Thai economy to grow steadily. Increase tax revenue in the medium term by not less than 1 billion baht.”

The goal behind the move is broader than just easing the tax burden. The aim is to make crypto more trustworthy, attract foreign investment, and grow Thailand’s blockchain space. With this move, the country joins a small group of nations offering clear tax rules for digital assets.

Officials say this is just the start. The Finance Ministry is also looking at introducing VAT on digital asset transactions, while the Revenue Department is working to adopt OECD data-sharing standards to make crypto dealings more transparent and easier to audit.

By removing tax roadblocks, the Thai government is opening the door for more participation in crypto, from everyday investors to tech startups. It sends a strong signal that Thailand is ready to compete in the global digital economy and wants to lead the way in responsible crypto regulation.