Maldives vs Thailand
Crypto regulation comparison
Maldives
Thailand
Restricted
Legal
The Maldives Monetary Authority has warned against cryptocurrency and does not recognize it as legal tender. No specific legislation exists but the MMA discourages crypto activities.
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
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
15%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Maldives Monetary Authority (MMA)
Regulator
SEC Thailand, BOT (Bank of Thailand)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
SEC Thailand regulates digital tokens including stablecoins
Key Points
- MMA has warned against cryptocurrency use
- Crypto not recognized as legal tender
- No specific cryptocurrency legislation
- Financial institutions discouraged from dealing in crypto
- Limited crypto adoption
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)