Thailand now is making a move allowing tax exemption for gains in crypto, this will boost crypto in their country, but with the exemption should only valid if the gains are done on exchange approve by their government.
They also have plans to allow tourist to spend using crypto, this is very exciting as some people want to use crypto as payment.
What can you say about this move of Thailand?
Here is the link of the news:https://cointelegraph.com/news/thailand-tax-exemption-crypto-income-five-yearsI think it is a good approach from the Thai government in supporting the economic growth of its people in various sectors. I experienced something different based on the policies of my country's government, even I have to pay taxes when I make fiat deposits to exchanges that have been licensed by the government. Not only that, every time I trade any coin with any pair, taxes will still be collected so that it is considered detrimental to traders.
If Thailand adopts bitcoin as a means of payment, then they should not limit it to tourists only. Citizens should also be able to use bitcoin as a means of payment, so the policy may need to be reconsidered to find a better solution. It is very unwise to allow others to use bitcoin as a means of payment in their country, while their own citizens are prohibited.