The regulatory environment in Thailand is favorable for Bitcoin and other cryptocurrencies.
- Thailand legalized cryptocurrencies in 2016, and today seven cryptocurrencies, including Bitcoin, are legal to buy and sell.
- In May 2018 the Revenue Department of Thailand announced that individual cryptocurrency investors are exempt from paying 7% value-added tax (VAT) on transactions.
Binance was founded in 2017 and within 180 days grew into the largest cryptocurrency exchange in the world. It is available in over 180 countries and has more than 100 million customers worldwide. It offers spot, futures and options trading, lending and staking, ICO launchpad. Since July 2022 Binance zero-fee trading for BTC spot and margin trading pairs.
Bitkub was founded in 2018 in Bangkok, Thailand. Today it has grown to be the country's largest cryptocurrency exchange with more than 80% market share. It offers spot trading and instant deposits/withrawals with Thai bank accounts. In November 2021 Bitkub was valued at over USD $1 billion, making it one of Thailand's first unicorn start-up companies.