Liechtenstein vs Thailand
Crypto regulation comparison
Liechtenstein
Thailand
Legal
Legal
Liechtenstein's Blockchain Act (TVTG) effective since 2020 is among the world's most comprehensive crypto frameworks. The FMA supervises registered TT service providers. Adapted for EU MiCAR in 2025.
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
Income
Tax Type
Capital gains
Tax Rate
1-8%
Tax Rate
15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Financial Market Authority (FMA)
Regulator
SEC Thailand, BOT (Bank of Thailand)
Stablecoin Rules
Regulated under TVTG and MiCAR
Stablecoin Rules
SEC Thailand regulates digital tokens including stablecoins
Key Points
- Blockchain Act (TVTG) adopted unanimously in 2019, effective Jan 2020
- Token Container Model enables tokenization of any asset or right
- FMA registers and supervises all TT service providers
- EEA MiCAR Implementation Act entered into force Feb 2025
- First country with comprehensive blockchain-specific legislation
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)