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-yearsThe fact that this tax exemption only applies to crypto exchanges licensed by the government is a paradox. People might be excited to not have to pay for crypto taxes but in the process would have to sacrifice their privacy. The government would be all up our holdings and monitoring our activities. Even if you are not doing anything wrong, you might still be suspected by the government since they can track you.
It is a step forward but also a compromise so it depends on Thai citizens and tourists alike if this is the sacrifice that they are willing to make to use crypto tax free.