Thailand may see offshore crypto gains after Singapore and Hong Kong adopt CARF
- —Hong Kong and Singapore will start collecting CARF data in 2027, with first exchanges in 2028
- —Thailand has reportedly committed to joining CARF around 2028
- —Thailand's crypto tax exemption applies only to licensed domestic platforms
- —Since 2024, foreign income is taxed when brought into Thailand
Why it matters: CARF expands tax transparency for crypto transactions, potentially pushing some funds back to licensed Thai platforms.
Source: Siam Blockchain