Thailand axes planned 15% cryptocurrency tax

 

Thailand has scrapped plans to impose a 15 per cent withholding tax on crypto transactions after facing pushback from traders in one of south-east Asia's biggest markets for digital currencies.

"The revenue department did a lot of homework and reached out to crypto operators as well to get feedback," said Pete Peeradej Tanruangporn, chief executive of Upbit, a crypto exchange, and co-chair of the Thailand Digital Asset Operators Trade Association.