Thailand slashes crypto trade tax in push to become digital asset hotspot – DL News

Thailand is exempting crypto traders from paying a hefty tax to strengthen the country’s ambitions to become an Asian digital assets hub.

The Finance Ministry will remove the need to pay a 7% value-added tax on earnings from trading cryptocurrencies and digital tokens, according to local news outlets.

The exemption aims to encourage digital assets as a fundraising alternative, said Paopoom Rojanasakul, the finance minister’s secretary, according to the Bangkok Post, which reported on the extended exemption.

The exemption, previously set to expire at the end of 2023, will now permanently apply to transactions executed through Thailand’s…