Criptomonedas as a payment method in Asia: a growing trend
Asia is one of the regions most active in adoption of criptomonedas, and more and more countries are regulating the use of Bitcoin, USDT and other criptos for everyday purchases. But where can you pay with criptomonedas without legal problems?
Below, we look at the more advanced countries in this field and what you need to know before you make purchases with crypto in the region.
Thailand: payments criptomonedas retail select
Thailand has taken important steps towards the adoption of criptomonedas. Although the Bank of Thailand banned from your direct use for commercial payments in 2022, many businesses still accept them through intermediaries as Binance Pay or Alchemy Pay.
✅ What you can do:
- Pay with crypto in hotels, restaurants, and shops in Bangkok and Phuket.
- Use Bitcoin or USDT through cards crypto and payment gateways.
- Make purchases in online platforms thai with stablecoins.
❌ Limitations:
- Merchants can accept payments in crypto directly, but do so through intermediate solutions.
- Some transactions may generate tax depending on the tax residence of the user.
Singapore: the mecca of the payments criptomonedas
Singapore is one of the most advanced countries in regulating crypto and allows the use of Bitcoin and stablecoins at various merchants.
✅ What you can do:
- Pay in cafes, restaurants and hotels with BTC and ETH.
- Use Visa card crypto purchases in any trade.
- Send and receive payments in stablecoins without restrictions.
💡 Data key: In 2023, Singapore authorized licenses for issuers of stablecoins regulated, which facilitates the use of USDT and USDC in the country.
Hong Kong: payments with crypto and flexible adjustment
Hong Kong has adopted a progressive approach in the regulation of criptomonedas. From 2023, allows exchanges licensed to operate legally and facilitates the use of criptoactivos in commercial payments.
✅ What you can do:
- Purchased at electronics stores and luxury with Bitcoin.
- Withdraw cash at atms crypto in the city.
- Paying for services with stablecoins on local platforms.
💰 Extra benefit: There is No tax on capital gains on criptomonedas in Hong Kong, making it attractive for traders and firms crypto.
Regulatory and tax issues to take into account
If paying with crypto is possible in several countries of Asia, each jurisdiction has different regulations about tax and commercial use.
📢 What should you keep in mind?
- Thailand: There may be gains taxes if you convert crypto to fiat.
- Singapore: There is No tax on capital gains in crypto.
- Hong Kong: Regulation friendly, but with requirements KYC for large transactions.
⚠️ If you plan to use criptomonedas in Asia, it is crucial to understand the local regulations to avoid tax problems.
Is it better to pay with criptos in Asia? Pros and cons
🔹 Benefits | ❌ Disadvantages |
Less bank fees | Regulation changing |
Fast and without intermediaries | Not all merchants accept |
More privacy in payments | Converting to fiat you can generate taxes |
What should you use criptos in Asia?
If you are traveling or living in Asia and you want to pay with criptomonedas, options are not you are missing. From Thailand to Singapore and Hong Kongthere are multiple ways to make purchases without relying on traditional banks.
📣 If you want to take advantage of the tax advantages and financial payments with crypto, we will advise you.
¡Click here and let us guide you towards a fiscal management efficient and hassle-free!
EN 
ES