# US Vice President JD Vance on Building the Future of the Crypto Industry - Link: https://www.thailand-business-news.com/cryptocurrencies/223716-us-vice-president-jd-vance-on-building-the-future-of-the-crypto-industry - Published: 2025-06-03T13:28:35+07:00 - Author: Thai Video News **US Vice President JD Vance encouraged cryptocurrency enthusiasts to engage in politics to secure the industry’s future. He emphasized the importance of advocacy and participation in political processes to influence regulations and support for cryptocurrencies. By getting involved, enthusiasts can help shape policies that promote innovation and ensure a thriving environment for the cryptocurrency sector. --- ## Bitcoin 2025: VP Vance Discusses Shaping the Future of the Crypto Industry In 2025, the cryptocurrency landscape is set to undergo significant transformation, with Bitcoin at the forefront. VP Vance emphasizes the importance of building a sustainable infrastructure for the future of this digital asset. As institutional adoption increases, the need for enhanced scalability and security has never been greater. Vance advocates for innovative solutions that address these challenges while maintaining the core principles of decentralization. ADVERTISEMENT > We have to start thinking of the long term strategic implications of Bitcoin as > a strategically important asset for the United States over the next decade. > US Vice President JD Vance Key points from the speech: * **Political Engagement:** The speaker stresses that the crypto community must actively engage in politics. Warning that political decisions will inevitably affect even transformative technologies like Bitcoin. Continuing the political involvement from 2024 is crucial. * **Strategic Importance of Bitcoin:** Bitcoin should be viewed as a strategically important asset for the United States, particularly as adversaries like China oppose it. The speaker mentions the establishment of a Bitcoin Reserve to promote this strategic importance within the US government. * **Long-term Vision:** The community needs to consider the long-term strategic implications of Bitcoin, especially considering that many Americans have invested in it and created wealth. Vance also emphasizes the importance of regulatory clarity in building a stronger crypto ecosystem. Collaborative efforts with regulators can help create an environment that fosters innovation while safeguarding consumers. Striking this balance is crucial for Bitcoin to flourish and achieve mainstream recognition as a legitimate financial asset. ### Related**Posts** ### 󠀁[Prime Minister Anutin Congratulates Nene Royal on ‘AGT’ Triumph](https://www.thailand-business-news.com/entertainment/331069-prime-minister-anutin-congratulates-nene-royal-on-agt-triumph)󠁿 ### 󠀁[Tokenised Deposits vs Stablecoins: Why Thailand’s Cautious Path Differs from Hong Kong and Singapore](https://www.thailand-business-news.com/banking/321239-tokenised-deposits-vs-stablecoins-why-thailands-cautious-path-differs-from-hong-kong-and-singapore)󠁿 ### 󠀁[The cabinet has given the green light to a national disaster insurance plan that will cover 30 million homes](https://www.thailand-business-news.com/finance/329026-the-cabinet-has-given-the-green-light-to-a-national-disaster-insurance-plan-that-will-cover-30-million-homes)󠁿 ### 󠀁[Humanoid Robots Put China Ahead in Tech Race](https://www.thailand-business-news.com/china/324480-humanoid-robots-put-china-ahead-in-tech-race)󠁿 Thailand has established a regulatory framework for cryptocurrencies, including Bitcoin, balancing innovation with investor protection. Here’s a concise overview of the current regulations as of June 2025, based on available information: * **Legal Status**: Bitcoin and other cryptocurrencies are not legal tender in Thailand but are classified as “digital assets” under the **Royal Decree on Digital Asset Businesses B.E. 2561 (2018)**. They can be issued, traded, and exchanged through licensed digital asset business operators. * **Regulatory Authority**: The **Securities and Exchange Commission (SEC)** oversees digital asset activities, including exchanges, brokers, dealers, and initial coin offerings (ICOs). Operators must obtain licenses from the SEC, and local banks are prohibited from direct cryptocurrency transactions. * **Approved Cryptocurrencies**: The SEC has approved Bitcoin (BTC), Ethereum ( ETH), Ripple (XRP), and Stellar (XLM) for trading on licensed platforms. * **Payment Restrictions**: Since April 2022, the SEC and Bank of Thailand (BOT) have prohibited digital asset business operators from facilitating cryptocurrencies as a means of payment for goods and services, citing risks like volatility and money laundering. However, private transactions and controlled environments ( e.g., BOT’s regulatory sandbox) may allow limited crypto payments. * **Anti-Money Laundering (AML)**: Digital asset operators are classified as financial institutions under the **Anti-Money Laundering Act**. They must report cash transactions of 2 million baht or more, property transactions of 5 million baht or more, or any suspicious transactions to the Anti-Money Laundering Office (AMLO). Since September 2021, exchanges require in-person identity verification via “dip-chip” machines for new accounts. * **Taxation**: Income from cryptocurrencies is taxable under the **Revenue Code**. Profits from trading are subject to a 15% withholding tax, though transfers on licensed exchanges are exempt from 7% VAT until December 2025. * **Bitcoin ETFs**: The SEC does not permit spot Bitcoin exchange-traded funds ( ETFs) in Thailand, aligning with a cautious approach to protect financial stability. However, institutional and high-net-worth investors can access U.S.-based Bitcoin ETFs through asset managers. * **Recent Developments**: In May 2025, the SEC announced plans to block unlicensed crypto platforms (e.g., Bybit, CoinEx, OKX) by June 28, 2025, to curb money laundering and protect investors. Additionally, a pilot program in Phuket allows tourists to use Bitcoin via credit card-linked platforms, converting to Thai Baht for merchants, with potential expansion if successful. * **Innovation Support**: Thailand supports blockchain development through initiatives like **Project Inthanon** for a central bank digital currency (CBDC) and regulatory sandboxes. The SEC has also eased restrictions on asset-backed tokens and proposed regulations for private funds to invest in crypto. **Critical Note**: Thailand’s regulations aim to foster a secure crypto environment, but the ban on unlicensed platforms and payment restrictions may limit accessibility. The Phuket pilot suggests openness to innovation, but claims of Bitcoin becoming legal tender lack confirmation and should be treated skeptically. Always verify with primary sources like the SEC or BOT for compliance. For detailed regulations, visit [https://www.sec.or.th/](https://www.sec.or.th/) or [https://www.bot.or.th/.](https://www.bot.or.th/)