Thailand exempts crypto from taxes for five years 🚀

Thailand has decided to drastically change its approach to cryptocurrencies. Starting from the beginning of 2025, there will be no taxes on capital gains from crypto. At all. For a whole five years. Yulapun Amornvivat, the Deputy Minister of Finance, announced this recently. The country is clearly aiming to become a leader in digital assets in the region 🌏.

There is a nuance. Transactions must go through licensed SEC providers. Otherwise, it won't work. The market is rising like yeast. By 2025, it could reach almost $800 million. Impressive.

The financiers of the country did not start this for no reason. They expect an influx of at least a billion baht into the economy. That's about 30.7 million dollars. Not bad. It seems like a game with two goals: on one side freedom for innovations, on the other — increased control 📋.

By the way, the SEC has recently tightened the screws. It is blocking unregistered international exchanges. This will take full effect from June 28. Thailand is kind of saying: "Play, but by our rules" 🛑.

The big players are already adjusting. Some companies are even preparing to list gold-backed stablecoins. The market looks lively: eight exchanges, twelve brokers. There is plenty to choose from.

Plans also include allowing tourists to pay with cryptocurrency. From the end of May, it seems. Thailand appears to be seriously committed to creating its crypto-economy. And it looks quite determined 🌕.