Crypto trading becomes VAT-free in race for digital

The Finance Ministry in Thailand has announced the exemption of value-added tax (VAT) on digital asset trading in a bid to position the country as a digital asset hub. This move, effective from January 1, 2024, aims to promote digital assets as a fundraising tool and support the growth of the digital asset industry in Thailand. Authorities anticipate that these tax policies will bolster the country's digital economy, especially considering Thailand's status as a top destination for offshore digital asset investors.