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Georgia vs Thailand

Crypto regulation comparison

← Back to map | Georgia | Thailand
Georgia

Georgia

Thailand

Thailand

Legal
Legal

Georgia is one of the most crypto-friendly countries globally. There is no capital gains tax for individuals on cryptocurrency, and the country has a significant crypto mining industry due to low electricity costs. The National Bank has taken a cautious but permissive approach, issuing guidance rather than strict regulation.

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 No tax
Tax Type Capital gains
Tax Rate 0% (individuals)
Tax Rate 15%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator National Bank of Georgia (NBG)
Regulator SEC Thailand, BOT (Bank of Thailand)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules SEC Thailand regulates digital tokens including stablecoins
Key Points
  • No capital gains tax on crypto for individuals
  • Businesses dealing in crypto are taxed under standard corporate tax rules (15% CIT)
  • Georgia is a major crypto mining hub due to cheap hydroelectric power
  • NBG does not recognize crypto as legal tender but has not prohibited it
  • The Free Industrial Zone offers additional tax advantages for crypto businesses
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)
Sources
Sources