Thailand has rolled out a comprehensive series of cryptocurrency reforms in 2025, aimed at strengthening customer protection, fostering innovation, and accelerating economic growth. These efforts are part of Thailand’s ambition to become a leading hub for digital finance and cryptocurrency in Asia and beyond.
Thailand’s 2025 Crypto Regulatory Milestones
June 17, 2025 — Five-Year Crypto Tax Exemption
Thailand approved a five-year exemption on capital gains tax for crypto trading conducted through licensed exchanges. This exemption, effective from January 1, 2025, to December 31, 2029, is designed to incentivize investment, stimulate economic activity, and support sustainable growth in the digital asset sector.
May 29, 2025 — Ban on Unlicensed Crypto Platforms
Thailand’s Securities and Exchange Commission (SEC) banned five major crypto platforms — Bybit, 1000X, CoinEx, OKX, and XT.COM — for operating without a license. The SEC advised users to withdraw or transfer their digital assets before the June 29 deadline, reinforcing investor safety.
May 13, 2025 — Digital Asset Public Debt Offering
Thailand’s Ministry of Finance announced it will issue approximately 5 billion baht ($150 million) worth of digital asset tokens — known as “G Tokens” — to raise funds under its public budget borrowing plan.
April 13, 2025 — Royal Decrees Enhancing Oversight
Two critical royal decrees came into effect:
- Royal Decree on the Operation of Digital Asset Businesses (No. 2), B.E. 2568 (2025): Mandates foreign crypto platforms to obtain SEC licenses if targeting Thai users. Violations can result in up to three years in prison or a fine of up to 300,000 baht ($8,700).
- Royal Decree on Measures to Prevent and Suppress Technology Crimes (No. 2), B.E. 2568 (2025): Grants the Ministry of Digital Economy and Society (MDES) authority to block unlicensed digital platforms without requiring a court order.
Thailand’s Broader Crypto Vision
Government officials have signaled that these new laws and regulations are part of a broader national strategy to boost digital innovation while protecting consumers. Key objectives include:
- Growth in Adoption: The crypto-friendly tax framework encourages the use of digital assets for daily transactions.
- Investor Protection: New licensing requirements and anti-money laundering (AML) measures strengthen trust and safeguard investors.
- Economic Growth: Authorities anticipate that a supportive regulatory framework will accelerate the Thai economy.
- Global Competition: Thailand is positioning itself to compete globally by fostering a secure and innovation-driven crypto ecosystem.
Thailand’s Crypto Tax Landscape in 2025
- Capital Gains Tax (CGT): Waived from January 1, 2025, to December 31, 2029, for trading through licensed exchanges.
- Income Tax: Crypto income is subject to personal income tax, as the Revenue Department classifies digital assets as electronic data with intrinsic value.
- Taxable Events: Include trading, swapping, mining, airdrops, crypto payments, and investment returns.
- Tax-Free Events: Include crypto donations, inheritance, income from crypto derivatives, unrealized gains on held crypto, and loss or theft of crypto.
Crypto Licensing in Thailand
Under the revised Royal Decree, foreign and domestic virtual asset service providers (VASPs) must obtain an SEC license to operate legally. Licensing steps include:
- Incorporation in Thailand: Companies must deposit 50 million THB (~$1.4M USD) in share capital.
- Compliance: Adherence to KYC, AML, and CFT regulations.
- Registration: Final registration with the Ministry of Finance, typically completed within 150 days.
Crypto Adoption in Thailand in 2025
- Penetration Rate: Estimated at 11.6% in 2025, expected to rise to 11.79% by 2026, reaching around 8.43 million crypto users.
- Crypto Revenue: Projected at $793.6 million in 2025, with annual growth of 1.45% toward $805.1 million by 2026.
- Government Holdings: No public data on government crypto holdings, but policy continues to prioritize a regulated, growth-oriented environment.
Conclusion
Thailand has quickly emerged as one of the world’s most prominent crypto markets, with roughly one in five Thai citizens reportedly holding digital assets. Thanks to progressive regulations, a clear tax framework, and proactive investor protections, Thailand is well-positioned to strengthen its role as a global crypto hub.
July 2025, Cryptoniteuae