The Thai government has exempted transfers of digital assets involving licensed cryptocurrency exchanges from paying value added tax. The Bangkok Post writes that the rule will apply until the end of 2023.

The new regulation comes in addition to the decision not to charge VAT on crypto transactions taken in March. This exemption also expires at the end of next year.

In February, Thai authorities waived the requirement to pay 15% income tax on transactions with digital assets.

Akaradet Diavpanich, CEO of Cryptomind Group Holdings, admitted that the measure is aimed at promoting the use of CBDC in the future. He was skeptical that this would have an impact on investments in digital assets, as income tax exemption is more important to crypto investors.

Recall that from April 1, 2022 in Thailand, businesses are advised not to accept payments in digital assets.

June 2021 SEC I thought about regulating the DeFi industry.

Prior to that, the Central Bank announced the introduction of rules for stablecoins backed by foreign currencies, assets, and algorithmic “stable currencies”.