Settha Thavisin, the Prime Minister and Minister of Finance of Thailand, met with CEO of Binance, Richard Teng. It is reported that the two sides discussed plans to enhance Thailand's digital asset market development in terms of market support measures, as well as measures to supervise investments in accordance with the law, including providing investment knowledge to locals.

The Thai cabinet has given the green light to a tax exemption for cryptocurrency earnings in a bid to encourage fundraising through investment tokens. The exemption means that holders of investment tokens that have already had 15% capital gains tax withheld will not need to include the profits when calculating their income tax, effectively ending double taxation. The director-general of Thailand’s Revenue Department, Kulaya Tantitemit, said that the department recognised the importance of digital tokens for investment and that they would be a useful tool for raising funds for businesses in the country. The new exemption will apply to investment token earnings from 1 January 2024. Thailand has recently approved a number of tax benefits for crypto firms and users, including a VAT exemption for earnings until 2023 and a $1bn tax benefit for firms issuing investment tokens.

The Prime Minister of Thailand hopes to launch the digital currency distribution plan in May.

The former CEO of Zipmex Thailand, Akarlap Yimwilai, has been charged by Thailand's Securities and Exchange Commission for misleading customers and presenting false information. The SEC found that customer assets held in the crypto exchange's Z Wallet were transferred into overseas digital wallets before an announcement was made regarding changes in terms and conditions, which did not correspond with the information provided by Zipmex Thailand. The SEC has ordered the exchange to suspend its digital asset trading and brokerage services, and has filed a complaint against the CEO with the Office of the Provincial Crime Suppression Division for further legal action. Neither Zipmex Thailand nor Yimwilai have responded to requests for comment.

Thailand has extended the VAT exemption period for cryptocurrency trading in order to develop a digital asset center. The exemption applies to brokers and traders regulated by the Securities and Exchange Commission and exempts 7% VAT.