In 2025, Thailand made significant moves to establish itself as a leader in digital finance. The government and the Securities and Exchange Commission (SEC) introduced a series of new policies focused on increasing transparency, protecting investors, and stimulating economic growth through cryptocurrencies.
One of the most notable developments was the TouristDigiPay project, a trial allowing foreign tourists to convert crypto into Thai baht for purchases. This initiative, set to begin in the fourth quarter, is a joint effort between the Bank of Thailand (BOT) and the SEC, highlighting the country’s desire to use digital assets to boost its tourism industry.
However, Thailand also took a firm stance against unlicensed platforms. In both May and June, the SEC banned five major crypto exchanges—Bybit, OKX, CoinEx, 1000X, and XT.COM—for violating national financial laws and operating without proper licenses. A new Royal Decree also introduced stricter penalties, including fines and potential prison time, for non-compliant foreign platforms targeting Thai users.
On the investment front, the government approved a five-year tax exemption on capital gains from crypto trading through licensed platforms, effective from January 2025 to December 2029. This is a major incentive aimed at encouraging more investment and stimulating the local economy. While capital gains are exempt, other crypto activities like mining, airdrops, and receiving crypto as payment are still subject to personal income tax.
Other key developments from the year include:
- The government’s plan to issue $150 million in “G Tokens” to raise public funds.
- A public consultation launched by the SEC to decide whether local exchanges should be allowed to list their own utility tokens.
- A new decree giving the Ministry of Digital Economy and Society (MDES) the power to block unlicensed platforms without court approval.
Thailand’s forward-looking approach is already showing results. Crypto user penetration is projected to reach over 11.60% in 2025, with revenues expected to hit over $793 million. By balancing innovation with strict regulatory oversight, Thailand is positioning itself as a secure and attractive destination for crypto users and investors.
August 2025, Cryptoniteuae
