Crypto in Thailand: legality, rules, and tax

The legal status

Thailand was an early mover on crypto regulation. The Royal Decree on Digital Asset Businesses B.E. 2561, which came into force on 14 May 2018, classified cryptocurrencies and digital tokens as digital assets and built a licensing system supervised by the Securities and Exchange Commission (SEC). Under this framework, individuals can lawfully buy, hold, and trade digital assets, and businesses that run exchanges, brokerages, or dealerships must hold SEC licences and meet investor protection, custody, and know your customer requirements, as of 2026. The practical effect is a regulated market rather than a grey zone: crypto trading is legal, but it is meant to happen through licensed operators, and the SEC also approves which assets can be listed. This is a permissive but supervised regime.

Crypto as payment is restricted

Holding and trading are different from spending. The Thai baht is legal tender, and crypto is not. On 1 April 2022 the SEC issued a regulation that barred licensed digital asset business operators from facilitating or promoting the use of digital assets as a means of payment for goods and services, a measure aimed at financial stability. The Bank of Thailand (BOT) has supported this position on payments and oversees the role of financial institutions in digital assets. Since then, controlled initiatives have explored limited crypto to baht spending through sandbox arrangements, and in 2024 the SEC adjusted its payment rule to accommodate participants in the Bank of Thailand programmable payment sandbox. The headline remains that broad everyday payment in crypto is restricted, while narrow, supervised pilots have been tested, so confirm the current scope before relying on any payment use, as of 2026.

Regulation and licensed operators

The SEC is the central regulator for the digital asset market. It licenses and supervises exchanges, brokers, dealers, fund managers, ICO portals, and custodial wallet providers, and it sets conduct and disclosure rules for them, under the 2018 Royal Decree, as of 2026. The Bank of Thailand handles monetary and payment policy, restricts financial institutions from directly conducting digital asset business, and leads work on stablecoin policy and a central bank digital currency. Authorities have also acted against unlicensed activity: Thailand has moved to block access to digital asset platforms that operate without SEC authorisation, reinforcing that trading should take place through locally licensed venues. Anyone using the market should check that an operator appears on the SEC list of licensed digital asset businesses before depositing funds.

Tax

Tax in Thailand changed in favour of investors who use licensed venues. Under Ministerial Regulation No. 399, announced in September 2025, Thailand granted a personal income tax exemption on capital gains derived from selling or exchanging cryptocurrencies and digital tokens through SEC licensed digital asset operators, applying from 1 January 2025 to 31 December 2029. The exemption is tied to using licensed exchanges, brokers, or dealers in Thailand, and it does not automatically cover transactions outside licensed platforms or every category of crypto income, which can still be taxable under the Revenue Code. Tax is administered by the Revenue Department. Because the exemption has conditions and a fixed window, and because other income types remain in scope, verify your specific position with the Revenue Department or a qualified local professional. See the Thailand crypto tax page for detail. This is general information, not tax advice.

Availability and how to act

Thailand has a functioning licensed market, so residents can use SEC licensed exchanges, brokers, and dealers to buy and sell digital assets in baht. The intended path is to trade through these locally licensed operators, which also helps with the tax exemption that depends on using licensed venues. Because authorities have acted to block unlicensed platforms, using an offshore service that is not SEC licensed carries the risk of access restrictions and removes the investor protections the regime is designed to provide. The compliant route is to choose an SEC licensed operator, complete its know your customer process, and keep records of trades for tax. Confirm an operator is currently licensed with the SEC before you start.

Regulator and sources

• Royal Decree on Digital Asset Businesses B.E. 2561, in force 14 May 2018, the foundation of the licensing framework
• Securities and Exchange Commission (SEC) of Thailand, sec.or.th, the licensing and supervisory regulator for digital asset businesses, including the 2022 restriction on digital assets as a means of payment
• Bank of Thailand (BOT), bot.or.th, on payments, financial institution involvement, the programmable payment sandbox, and stablecoin and central bank digital currency policy
• Ministerial Regulation No. 399, announced September 2025, granting a personal income tax exemption on crypto gains through licensed operators from 1 January 2025 to 31 December 2029, administered by the Revenue Department, rd.go.th

Frequently asked questions

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