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Thailand exempts cryptocurrency from taxes for 5 years to promote the digital economy
The Thai cabinet has approved a five-year exemption from personal income tax on profits from the sale of Bitcoin and other cryptocurrencies. This move aims to encourage the adoption of cryptocurrencies and investment in the country’s growing digital economy. By eliminating taxes on profits from cryptocurrencies, Thailand hopes to attract more retail investors and institutions, while also promoting innovation in blockchain technology. The tax exemption is seen as a progressive step towards making Thailand a competitive hub for digital finance in Asia.