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ARTICLE · 16 MARCH 2022

Taxation Of Digital Assets - Thailand

Formichella & Sritawat Attorneys at Law Co., Ltd.
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According to the Thai Securities and Exchange Commission, investors had opened only 170,000 accounts with an exchange or digital asset trading center licensed by the SEC by 2020.

ThailandTechnology
John Formichella
John Formichella
Naytiwut Jamallsawat
Naytiwut Jamallsawat

According to the Thai Securities and Exchange Commission (SEC), investors had opened only 170,000 accounts with an exchange or digital asset trading center licensed by the SEC by 2020. Still, this number grew to 1.8 million by the end of 2021.

The value of investors' digital assets in Thailand has risen from THB9,600 billion to THB114.539 billion. This calculation does not include those investors who open trading accounts with foreign exchanges unregulated by the Thai SEC.

According to Thai law, cryptocurrencies are currently considered digital assets. On 25 January 2022, the SEC, the Bank of Thailand (BOT), and the Ministry of Finance (MoF) confirmed the need to regulate and control the use of cryptocurrencies as a means of exchange.

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