Yes, there is speculation, arguably unwarranted, that any foreign funds transferred to a Thailand wise, could be deemed funds remitted to Thailand, and hence potentially subject to Thailand, where perhaps special effort is then required (if ever audited) to prove funds not assessable for Thailand taxation. One of the fears, if one only intended (using my previous example) to tranfer funds from UK pounds to Australian (or NZ dollars) , but because one's Wise address is a Thai address, and because the funds were required to first go though Thai baht, it could be considered funds remitted funds to Thailand, even thou the funds were never intended to Thaiiland. And if remitted to Thailand, it may (or may not) be considered assessable funds for Thai taxation. I see this possibility as speculation, and possibly an unwarranted fear, but possibly not. Frankly - I don't know - but I believe it is something one should ponder and make their own decision as to their approach.