Thailand is tightening oversight of cryptocurrency transfers with new rules designed to make digital asset transactions easier to trace. From February 27, 2027, licensed operators will need to share information about senders and recipients while carrying out additional checks on certain transfers. Self-hosted wallets are also covered, bringing transactions outside regulated platforms under closer scrutiny.
Wallet checks expand
Digital asset operators will have to establish procedures for managing risks when sending or receiving cryptocurrencies. Customer and counterparty information must be collected, while businesses will also need to conduct due diligence on counterparties and check the qualifications of service providers involved in transfers.
Transactions involving self-hosted wallets face another layer of scrutiny. Operators must verify that customers own or control wallets used to send or receive digital assets, extending compliance checks beyond accounts held directly with regulated crypto businesses.
Companies initiating transfers will also have to send information identifying the originator and beneficiary to the operator receiving the transfer order. Intermediaries involved along the route are subject to checks as well, helping maintain a traceable path as assets move between parties.
Records kept longer
Transaction information must be kept for at least five years and made available to Thai regulators when required. Earlier consultation documents specified that records during the first two years should be stored in a way that allows authorities to retrieve or inspect them immediately.
Thailand’s Securities and Exchange Commission developed the framework alongside the Anti-Money Laundering Office as the country works on broader rules under its Anti-Money Laundering Act. Public consultations were conducted earlier this year, with the SEC saying most participants supported the proposals.
Officials expect the Travel Rule to make it harder for digital asset businesses to be used for money laundering, terrorist financing and technology-related crimes. Aligning the requirements with Financial Action Task Force standards could also make it easier for Thailand’s crypto sector to connect with regulated markets overseas.
