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France vs Thailand

Crypto regulation comparison

France

France

Thailand

Thailand

Legal
Legal

France has one of Europe's most developed crypto regulatory frameworks. The PACTE law (2019) established the PSAN (prestataire de services sur actifs numériques) registration regime, now transitioning to MiCA licensing. Crypto gains are subject to the 30% flat tax (prélèvement forfaitaire unique).

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.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 30%
Tax Rate 15%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator AMF (Autorité des Marchés Financiers), ACPR
Regulator SEC Thailand, BOT (Bank of Thailand)
Stablecoin Rules Regulated under MiCA; stablecoin issuers need e-money or credit institution license
Stablecoin Rules SEC Thailand regulates digital tokens including stablecoins
Key Points
  • 30% flat tax on crypto capital gains (12.8% income tax + 17.2% social charges) for non-professionals
  • PSAN registration required by AMF for all crypto service providers (mandatory since 2023)
  • Transitioning from PSAN regime to MiCA licensing framework in 2024-2025
  • Professional crypto traders may opt for progressive income tax rates
  • France is home to major crypto companies including Ledger and Société Générale's FORGE
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)