Thailand has announced a significant tax reform to position itself as a leading crypto-friendly nation.

On June 17, the country’s Cabinet approved a five-year personal tax exemption on profits from selling digital assets, including Bitcoin. The measure takes effect from January 2025 and will run until December 2029.

Deputy Finance Minister Julapun Amornvivat explained on the social media platform X that the capital gains tax will be waived for all crypto transactions conducted through licensed digital asset service providers (CASPs).

The policy aims to attract more investment into Thailand’s digital economy while boosting domestic consumption and innovation.

The authorities expect the tax incentive to contribute over 1 billion baht (approximately $30.7 million) to the economy in the medium term by encouraging local and international participation in the crypto market.

Boosting Thailand’s digital economy

The Finance Ministry believes the waiver will stimulate Thailand’s digital asset ecosystem, making it more vibrant and competitive.

According to Amornvivat, the exemption is part of a broader strategy to turn Thailand into a regional hub for blockchain innovation, token fundraising, and related digital businesses.

He added:

“This is another important step in raising the economic potential of our country and is an opportunity for Thai entrepreneurs to grow on the world stage

The government also sees this move as a foundation for future tax policies, including adding value-added tax (VAT) on digital transactions.

Regulatory efforts

Meanwhile, the measure also ensures that crypto trading remains compliant with anti-money laundering (AML) regulations, under the oversight of the Thai Securities and Exchange Commission (SEC).

In addition, the Revenue Department plans to adopt the OECD’s Crypto-Asset Reporting Framework (CARF), which will require sharing digital asset data with international tax authorities.

This is intended to increase transparency and reduce tax evasion risks in cross-border crypto transactions.

These efforts are part of the several steps taken by the Thai government to embrace the crypto sector.

Thailand’s proactive stance is already evident in its recent approval of stablecoins like Tether and USDC for digital trade. Reports also suggest the country is considering allowing spot Bitcoin ETFs.

Despite this openness, authorities continue to enforce rules, including recent crackdowns on illegal crypto mining operations.

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The US securities regulator is working on an “innovation exemption” to stoke the creation of more onchain products and services, according to Securities and Exchange Commission chair Paul Atkins.

Atkins, a former crypto lobbyist, said during a Monday crypto roundtable led by the SEC’s crypto task force titled DeFi and the American Spirit that he has directed staff to consider a conditional exemption relief framework. 

Exemptions could speed up innovation

These temporary exemptions would relieve firms from specific regulatory requirements to foster innovation in emerging tech sectors, provided they meet certain conditions.

Atkins said it would speed up the process of bringing onchain products and services to market while the SEC staff considers amendments to the Commission’s rules and regulations.

“An innovation exemption could help fulfill President Trump’s vision to make America the crypto capital of the planet by encouraging developers, entrepreneurs, and other firms that are willing to comply with certain conditions to innovate with onchain technologies in the United States,” he said.

At the same time, Atkins said he has asked staff to consider whether amendments to the commission’s rules and regulations would provide needed accommodation for issuers and intermediaries who seek to administer onchain financial systems.

“Most current securities rules and regulations are premised upon the regulation of issuers and intermediaries, such as broker-dealers, advisers, exchanges and clearing agencies,” he said.

“The drafters of these rules and regulations likely did not contemplate that self-executing software code might displace such issuers and intermediaries.”

Crypto framework is still a work in progress

The agency’s Crypto Task Force was launched on Jan. 21 by acting SEC chair Mark Uyeda, who was tasked with establishing a workable crypto framework for the agency. 

Atkins revealed in June 3 remarks to the Senate Appropriations Subcommittee on Financial Services that the SEC will hone its crypto policies with “notice and comment” and move away from shaping its rules through the courts.

He previously appeared before lawmakers on May 20 and said the Crypto Task Force would release its first report in the next few months.

New approach at SEC

During Monday’s crypto roundtable, Atkins also bashed the previous administration under former SEC Chair Gary Gensler and its approach to crypto.

Gensler was heavily criticized by the crypto industry for supposedly creating policy through lawsuits and legal settlements rather than rulemaking.

Related: SEC charges Unicoin crypto platform over alleged $100 million fraud

Since Gensler resigned on Jan. 20, the SEC has adopted a different approach to crypto, dismissing long-running enforcement actions against crypto firms.

SEC staff have also released guidance around the most common crypto staking activities, saying they do not violate securities laws, as well as information about how federal securities laws could apply to crypto.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered 

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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Last updated: 

June 8, 2025

United States Securities and Exchange Commission (SEC) Chair Paul Atkins says the agency is considering enacting a blockchain relief framework that could see key actors allowed to offer products and services “expeditiously.”

Paul Atkins Criticizes Gensler-Era Policies, Posits Relief Framework

Speaking at SEC headquarters for the Crypto Task Force’s final roundtable in its “Spring Sprint Toward Clarity” program, Atkins suggested that the federal regulator may offer an immediate innovation-friendly framework with regard to the blockchain sector as a whole.

“While the Commission and its staff work to propose fit-for-purpose rules of the road for on-chain financial markets, I have directed the staff to consider a conditional exemptive relief framework or ‘innovation exemption’ that would expeditiously allow registrants and non-registrants to bring on-chain products and services to market,” Atkins said.

“An innovation exemption could help fulfill President Trump’s vision to make America the ‘crypto capital of the planet’ by encouraging developers, entrepreneurs, and other firms that are willing to comply with certain conditions to innovate with on-chain technologies in the United States,” he added.

The newly confirmed SEC head also criticized the agency’s previous regulatory stance toward digital assets under then-chair Gary Gensler, stating that the regulator “must adopt a regulation based on the authority that Congress has given us.”

“The prior U.S. government administration discouraged Americans from participating in these market-based systems by asserting through lawsuits, speeches, regulation, and threatened regulatory action that participants and staking-as-a-service providers may be engaged in securities transactions,” he said.

SEC Shifts Toward Crypto-Friendly Stance

Atkins’ latest remarks come as the SEC undergoes major transformation under the Trump administration, shifting away from its regulation-by-enforcement strategy to a more crypto-friendly approach to the digital asset sector.

In the past few months alone, the commission has dropped several high-profile lawsuits against key players in the crypto industry, including Coinbase, Ripple, and Robinhood Crypto.

However, it is still unclear what a crypto regulatory framework will look like in the years to come.