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**Thailand’s Cabinet Approves Personal Tax Waiver for Bitcoin and Crypto Sales**
In a major breakthrough, Thailand’s cabinet has approved a personal tax waiver for profits from the sale of Bitcoin and other cryptocurrencies. This exemption applies to sales conducted on authorized platforms within the country, effective until 2029.
According to Julapun Amornvivat, Thailand’s Deputy Minister of Finance, this measure aims to strengthen the country’s position as a global financial center and align with guidelines recommended by the Financial Action Task Force (FATF) to combat money laundering. The government estimates that digital assets will contribute approximately 30.7 billion dollars to the Thai economy within the next few years.
This development comes shortly after Thailand’s Securities and Exchange Commission (SEC) announced its ban on five global cryptocurrency exchanges, including Bybit and OKX, due to a lack of valid local licenses. However, other major platforms such as KuCoin have already secured approval for operations in the country, with the latter opening a fully regulated subsidiary.
The tax exemption is set to expire at the end of 2029, providing Thai residents with an unprecedented opportunity to capitalize on the burgeoning crypto market.
Source: www.bitcoinbazis.hu
