While U.S. lawmakers continue debating the future of crypto regulation, at least one country has already moved. Thailand formalized a 0% capital gains tax on cryptocurrency trades back in September 2025.
Crypto commentator Xaif (@Xaif_Crypto) recently highlighted this. He shared images of the official Thai Royal Gazette document to make the point.
The regulation was published on September 5, 2025. It came into effect retroactively from January 1, 2025, and runs through December 31, 2029. That means Thailand has been operating under this policy for the better part of two years.
OFFICIAL: Thailand implements 0% capital gains tax on crypto trades including $XRP 🇹🇭
Ministerial Regulation No. 101 exempts individuals from tax on digital asset gains when traded through SEC-licensed exchanges and brokers.
Thailand isn't just watching the crypto race pic.twitter.com/fQyBdeWCCJ
— Xaif Crypto (@Xaif_Crypto) August 6, 2026
What the Regulation Does
The Thai Ministry of Finance issued the regulation under the Revenue Code. It exempts individual investors from personal income tax on capital gains earned through the sale of cryptocurrencies and digital tokens. The exemption applies only to trades executed through exchanges, brokers, or dealers licensed by Thailand’s Securities and Exchange Commission.
Previously, those gains were taxable as ordinary income at rates up to 35%. Mining, staking, and airdrop income remain taxable. The exemption covers individuals only. Companies do not qualify.
XRP produced the highest returns of any asset class in Thailand last year, and the stated goal is to position itself as a regional digital asset hub. The policy aims to pull trading activity onto domestic, regulated platforms and increase transparency across the sector.
The U.S. Has Not Followed
The contrast with the U.S. is significant. The CLARITY Act, which would establish a comprehensive regulatory framework for digital assets, remains stalled in Congress. It has not received a floor vote and risks dying in committee before the legislative recess.
No capital gains exemption for crypto has passed at the federal level. Coinbase’s VP of Tax testified before Congress in February 2026, warning that applying capital gains rules to everyday crypto transactions would overwhelm both taxpayers and the IRS. He pushed for a de minimis exemption on small transactions. That request has not yet produced legislation.
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Eric Trump signaled administration support for exempting U.S.-based crypto projects from capital gains tax as far back as January 2025. That proposal also has not advanced into law.
The Gap Widens
Thailand is not alone in its approach. Singapore, the UAE, and Malaysia have each established favorable tax environments for individual crypto investors. The regulatory momentum in Asia is real and documented. The U.S. crypto industry continues to lobby for change. But while that lobbying continues, other countries are writing policy into law.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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