The Thai government announced the exemption of digital currencies used in investment codes from paying taxes. This step aims to attract more private investment in emerging blockchain technology projects. This action is a catalyst for investing in digital currencies and reflects the Thai Government’s vision of supporting technological innovation and strengthening the local economy.
For its part, Thailand’s Securities and Exchange Authority indicated that this decision was in line with the new laws recently passed by the Government to regulate digital currencies and investment codes. The Authority added that it will follow closely the developments of this market and take the necessary measures to ensure investors’ safety and transparency of financial processes related to digital currencies.
This decision is expected to contribute to enhancing investor confidence and motivating more companies and investors to invest in this emerging industry. As the cryptocurrency market develops around the world, Thailand appears to be striving to update its legislation and join this global trend of investing in digital technologies.