Thailand vs Vatican City
Crypto regulation comparison
Thailand
Vatican City
Legal
No 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.
Vatican City has no cryptocurrency regulation. The micro-state's financial system is focused on the Holy See's financial activities. ASIF provides financial oversight.
Tax Type
Capital gains
Tax Type
None
Tax Rate
15%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
SEC Thailand, BOT (Bank of Thailand)
Regulator
ASIF (Supervisory and Financial Information Authority)
Stablecoin Rules
SEC Thailand regulates digital tokens including stablecoins
Stablecoin Rules
No stablecoin regulation
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)
Key Points
- No specific cryptocurrency legislation
- ASIF provides financial oversight for the Holy See
- Micro-state with very limited financial market
- No crypto exchanges or services
- AML/CFT framework aligned with international standards