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Thailand’s Digital Asset Market in 2025: Signs of Recovery and New Opportunities

2025/11/20 02:48:02

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After facing volatility in global markets over the past two years, Thailand’s digital asset market is buzzing again in 2025. A key factor driving this recovery is government measures. The Ministry of Finance announced an exemption from capital gains tax on the sale of digital assets for locally registered investors for five years, from January 1, 2025, to December 31, 2029, to attract investors and position Thailand as the region’s “Digital Asset Hub.”

In addition, the Securities and Exchange Commission (SEC) has revised regulations to support the issuance of digital tokens and new fundraising models such as Investment Tokens and Utility Tokens, while introducing investor protection measures and suitability tests to strike a balance between innovation and safety.

Outlook for 2026: A Major Turning Point

The year 2026 will mark a significant transition for the digital asset market, influenced by multiple factors—technology, regulatory frameworks, and rapidly changing investor behavior.

Bitcoin and Ethereum: Positive Signals from Global Markets

Bitcoin and Ethereum remain market leaders, buoyed by global interest in Spot ETFs. According to SEC data, in August Bitcoin averaged 3.499 million THB per BTC, down about 7.72% from July. However, analysts predict prices could surge to 3.9–4.77 million THB in 2026. Ethereum, the backbone for smart contracts and decentralized applications (DApps), averaged 142,000 THB, up 17.2% from the previous month, with forecasts suggesting it could reach 285,000 THB next year.

Another standout performer is XRP, which surprised investors with a 390% year-on-year growth, averaging 89.75 THB in August 2025.

(reference: Thai Weekly Report)

Challenges from External Factors

Despite signs of recovery, the market still faces pressure from external factors, particularly U.S. Federal Reserve monetary policy shifts affecting global liquidity, and economic uncertainty in several countries. Investors must closely monitor interest rates and the U.S. dollar.

Thailand’s Policy: Cautious Openness

During 2024–2025, the SEC has shown a more open stance toward digital assets, such as approving Bitcoin ETFs to enhance security and transparency. However, regulation remains cautious, focusing on anti-money laundering and investor protection. Newly enacted laws emphasize the principle of “Same Activity, Same Risk, Same Regulatory Outcome,” covering both centralized (CeFi) and decentralized (DeFi) platforms. The framework also allows tokenization for real estate and infrastructure projects, creating new fundraising options but adding compliance burdens for smaller operators.

Investment Trends: From Speculation to Long-Term Strategy

Thai investors are shifting from short-term speculation to long-term strategies, using advanced metrics like MVRV, HODL Wave, and Realized Price to assess true asset value. The rise of Wealth-Tech platforms and professional digital asset advisory services is also helping investors plan more effectively.

In 2026, digital asset investment in Thailand is expected to grow steadily, reaching around US$937 million with over 8.4 million users. The Thai regulatory authorities will likely continue to watch very closely and find the balance between innovation and market safety. Globally, technological innovations like tokenization, NFTs, and DeFi are gaining traction, especially with real-world applications. Although retail investors still dominate the market, institutional interest is increasing. Global trends and macroeconomic factors, such as U.S. monetary policy, continue to influence the Thai digital asset landscape.

 ⚠️ Disclaimer: Cryptocurrency and digital token involve high risks; investors may lose all investment money and should study information carefully and make investments according to their own risk profile.

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