Quote from: peter0425 on Today at 06:09:25 AM

Quote from: tech30338 on June 17, 2025, 02:23:16 PM

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-years

The 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.

I don't know anything about Thailand's local bitcoin exchange but letting the government know you hold some bitcoin could be risky in some ways. If you hold a big amount without a record to them of owning any asset, they might flag your account suspicious and hold your bitcoin on the local exchange platform.

It's the same in our country. They don't approve the use of international CEX and force people to use our local bitcoin exchange. I don't have problem supporting our own platform but the issue is their reputation. They've been known to lock their user's account without any reason and their site goes into maintenance when bitcoin experience extreme volatility. The exchange fees also are much higher compared to international CEX like binance or bybit which locals here doesn't want to use it.