Ethiopia vs Thailand
Crypto regulation comparison
Ethiopia
Thailand
Ethiopia's Proclamation No. 1359/2024 explicitly prohibits cryptocurrency for payment transactions but allows the NBE to issue future guidelines on digital assets. Crypto mining is legal and actively growing, with Ethiopia emerging as a major Bitcoin mining destination leveraging hydroelectric power. A comprehensive regulatory framework is under development.
Thailand has a comprehensive crypto regulatory framework under the Digital Asset Business Emergency Decree (2018). The SEC Thailand licenses digital asset exchanges, brokers, and dealers. Crypto gains are taxed at 15% withholding tax, though the government exempted VAT on crypto trading on authorized exchanges from 2022. Thailand has a well-developed exchange ecosystem with Bitkub as the dominant platform.
Key Points
- Proclamation No. 1359/2024 prohibits cryptocurrency for payment transactions
- NBE authorized to issue future directives on crypto assets and CBDCs
- Crypto mining is legal and rapidly expanding, leveraging hydroelectric power
- Ethiopia has become one of the fastest-growing Bitcoin mining destinations globally
- Comprehensive digital asset regulatory framework under development
Key Points
- Digital Asset Business Emergency Decree B.E. 2561 (2018) provides comprehensive regulation
- SEC Thailand licenses exchanges, brokers, dealers, and fund managers for digital assets
- 15% withholding tax on crypto gains; VAT exempted on authorized exchange trades since 2022
- BOT restricts crypto for payments but allows it as an investment asset
- Bitkub is the dominant exchange (~90% market share domestically)