Thailand has approved a five-year tax exemption on gains from Bitcoin and other cryptocurrencies. Deputy Finance Minister Chulaphan Amornvivat announced the decision on 17 June through X, confirming that the exemption will be in effect from 1 January 2025 to 31 December 2029. The policy, approved by the Thai Securities and Exchange Commission (SEC), is part of a longer plan to position Thailand as a hub for digital assets.

Amornvivat said the move supports transparent trading practices, strengthens innovation, and encourages steady economic growth. He described the tax exemption as a strategic tool to attract foreign capital and revitalize domestic consumption through digital asset markets.

Push to Become a Global Crypto Hub

Amornvivat emphasized that Thailand stands among the first countries to establish a clear legal and tax framework for digital assets. He added that the Revenue Department is preparing to align with the Organization for Economic Co-operation and Development’s (OECD) data exchange standards. This alignment aims to improve the transparency and auditability of digital transactions within the country.

The Finance Ministry believes the tax policy will not only enhance local market activity but also provide opportunities for Thai startups and entrepreneurs to expand globally. The government views this move as a long-term investment in the country’s digital and economic infrastructure.

Tightening Grip on Unlicensed Exchanges

While Thailand opens the door to crypto growth through regulatory clarity and tax incentives, its regulators are also increasing pressure on unlicensed digital asset platforms. The Thai SEC announced plans to block access to Bybit, OKX, CoinEx, 1000X, and XT.COM starting 28 June. These exchanges are accused of operating without proper authorization.

Legal proceedings are underway, and the SEC has passed the information to the Ministry of Digital Affairs to carry out the access restrictions. The decision comes as part of a wider crackdown on illicit activity in digital asset trading, including money laundering and cybercrime.

The SEC stated that it aims to protect Thai investors from fraud and unauthorized platforms. The blocked exchanges face additional scrutiny under new enforcement measures introduced to strengthen investor protection.

Balancing Growth and Oversight

Thailand’s latest steps show a dual approach that encourages legitimate innovation while enforcing strict oversight on unregulated activity. The government appears focused on building a secure digital asset environment that supports both economic growth and consumer safety. With the tax break set to roll out in early 2025, the next phase will likely focus on regulatory refinement and market infrastructure.

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