In a bold move to cement its status as a rising crypto and digital innovation hub, Thailand has announced a five-year suspension of capital gains tax on cryptocurrency asset sales conducted through licenced exchanges. The measure, which will take effect on January 1, 2025, and last until December 31, 2029, is designed to strengthen the country’s digital economy and attract both domestic and international investment.
Only platforms licenced by the Thai Securities and Exchange Commission (SEC) will qualify for the exemption, ensuring that transactions remain under regulated and transparent oversight.
Announced on June 17, the initiative is part of a sweeping policy framework to modernise Thailand’s financial system, embrace technological innovation, and position the country as a competitive player in the global digital asset space.
Strategic Reform Aligned with Global Standards
Deputy Finance Minister Julapun Amornvivat confirmed the details, explaining that the tax break will not only support local crypto trading and investment but also help Thailand align with international standards, including those laid out by the Financial Action Task Force (FATF).
“This adjustment of tax collection on digital assets will help the Thai digital asset market, including the digital asset business and related businesses in Thailand, to grow more,” Amornvivat said in a translated statement.
He emphasised that the reform would open new channels for economic fundraising through digital tokens, foster wider use of blockchain innovation, and bolster the country’s long-term competitiveness.
Digital Assets as Economic Engines
Thailand has been among Asia’s pioneers in formalising cryptocurrency regulations. Now, it’s doubling down on that momentum by incorporating digital assets into broader economic planning.
Amornvivat estimates that this policy shift could result in at least 1 billion baht around $30 million in additional tax revenue through the indirect economic effects of increased activity and innovation.
The country is also looking to integrate digital assets into everyday consumer spending and public finance.
On May 26, Deputy Prime Minister and Finance Minister Pichai Chunhavajira outlined a plan to allow tourists to spend cryptocurrency during their stay in Thailand by linking their crypto wallets to credit cards, making it easier for international visitors to use digital currencies without disrupting local currency systems.
“In some foreign countries, it’s already possible to use crypto for purchases by linking it to credit cards,” Chunhavajira said, according to The Nation. “When something is bought, the vendor receives payment in local currency as normal, often not even realising the buyer used crypto.”
“This approach can be immediately adapted for Thailand, provided the supporting systems are in place, but it will not involve our domestic currency,” he added, clarifying that the Thai baht would not be replaced or affected.
Introducing G-Tokens and Fractional Bonds
Another pillar of Thailand’s digital push is the G-Token initiative, which aims to modernise the way citizens invest in government bonds. Retail investors would be allowed to purchase government bonds in fractional amounts, down to six decimal places, making bond investments more accessible than ever before.
These G-Tokens are expected to offer returns superior to traditional bank deposits, thereby providing an attractive alternative for tech-savvy investors and expanding participation in public finance.
Chunhavajira believes that the success of G-Tokens could elevate Thailand’s reputation in global financial markets, especially if the system proves to be secure, efficient, and investor-friendly.
Regulated, Responsible Innovation
Secretary-General of the Thai SEC, Pornanong Budsaratragoon, stressed that G-Tokens would be strictly investment-focused, distancing the initiative from speculative digital tokens or meme coins.
“We want to ensure that the G-Token serves as a useful, technology-driven investment innovation, not merely a speculative tool,” she said. “It must offer proper investment options, exit strategies, and investor protection.”
This cautious yet progressive tone is emblematic of Thailand’s approach to the crypto revolution, embracing innovation while maintaining strong regulatory oversight.
A Vision for a Digital-First Economy
Thailand’s suspension of capital gains tax on crypto transactions marks a pivotal moment in its digital evolution. By opening the door to blockchain-driven growth while ensuring safeguards and structure, the government is charting a course that seeks to balance economic opportunity, investor access, and technological progress.
As global competition for digital investment heats up, Thailand’s clear regulatory framework, tax incentives, and forward-looking policies could make it a leading destination for crypto entrepreneurs, fintech firms, and everyday users seeking secure and inclusive digital finance solutions.
