It's often overlooked, but Southeast Asia is one of crypto's favorite playgrounds. And in recent months, Thailand has been really picking up the pace. While some countries are still tinkering with their legal frameworks, Bangkok has brought out the big guns: new rules, tax exemptions, and even a pilot project to allow tourists to spend their bitcoins in baht.
It's a small, quiet revolution, but one that could redraw the region's crypto map.
A clear (and rather strict) framework
Officially, cryptocurrencies are not a “currency” in Thailand, but rather “digital assets.” In concrete terms, you can buy, sell, and invest, but only through platforms licensed by the Thai SEC. Exchanges are verified and have appropriate licenses, as is the case with bitkub For example, foreign exchanges that target unlicensed Thais? Blocked. Bybit, OKX, and CoinEx have already experienced sanctions.
This is a far cry from the Wild West: here, KYC, AML and local entity are mandatory if you want to play on the market.
Tax carrot to attract capital
The other big announcement is the tax exemption on crypto gains for transactions made on authorized platforms. Five years of “Tax holiday” – until the end of 2029. The stated objective: to make Bangkok an Asian crypto hub and attract capital from crypto investors.
🔎 Focus: the crypto “tax holiday” in Thailand
The flagship measure adopted by Bangkok is this tax exemption on crypto gains, dubbed the “tax holiday.” In concrete terms, any investor—individual or corporate—who buys or resells digital assets through a platform approved by the Thai SEC will pay no tax on their capital gains for five years, until the end of 2029.
The goal in Thailand is clear: attract capital and encourage the use of local platforms by offering a massive tax break. In a world where most countries are tightening their crypto taxes, Thailand is taking the opposite approach. This is a very “pro-innovation” signal that positions the country as a regional crypto hub, halfway between Dubai and financial Singapore.
However, the exemption does not apply to transactions outside of authorized platforms: going through unauthorized channels remains taxed and may even expose you to penalties. The idea is to reward compliance and channel the market toward regulated players.
Crypto-tourism: spending your coins in Phuket
The government is also testing an 18-month pilot program: foreign tourists can convert their cryptocurrencies into baht via approved wallets, with a cap (around $16,900) to prevent abuse.
The idea is clear: to revive tourism, which weighs heavily on the Thai economy, and to capitalize on the country's techno-friendly image.
Why does this matter to Bitcoiners?
For bitcoiners and investors, this is a powerful signal: crypto is no longer just tolerated, it's being integrated into a state's economic strategy. This could set a precedent in Asia, and even elsewhere.
It remains to be seen whether the bet will hold up over time. But for now, Thailand is positioning itself as crypto-friendly countries, where others are content with speeches.
We may be witnessing the emergence of a crypto-friendly “Singapore II.” The coming months will reveal whether Thailand can balance openness with over-regulation.
But for those who want to follow the actual adoption or are looking for an expatriation, it is a country to watch closely.
