Thai SEC Gives Digital Asset Operators Six Months to Implement Crypto Travel Rule
The Thai Securities and Exchange Commission has set a February 27, 2027 deadline for digital asset operators to implement the country's finalized version of its crypto 'Travel Rule' or face losing their right to operate in Thailand.
The rule requires licensed exchanges and other digital asset businesses to identify both the sender and receiver in every crypto transfer, among other stipulations.
The Thai SEC's announcement specified four core duties for digital asset business operators: writing policies and procedures for handling transfer risk, gathering identity data on customers and their counterparties, passing originator and beneficiary details to receiving operators, and holding accompanying records on transactions for at least five years.
The commission frames the whole exercise as bringing Thai oversight into line with standards set by the Financial Action Task Force (FATF), whose Recommendation 16 originated the Travel Rule for crypto. Thailand is late in implementing this rule, as FATF estimated that 83% of jurisdictions it surveyed had already passed Travel Rule legislation by 2026.