Thailand Cracks Down on Crypto Transfers with New Travel Rule
Thailand's Securities and Exchange Commission (SEC) has issued a new rule requiring supervised crypto platforms to collect and transmit information identifying the people or entities behind coin transfers. This 'Travel Rule' takes effect on February 27, 2027, after a 180-day implementation period.
The rule applies to licensed operators who must add recipient data to transfers, collect extra details for transactions above 30,000 baht, and verify some self-hosted wallets. Customers sending more than 30,000 baht are required to provide additional recipient information, including the province or city and country of the recipient, as well as their registration number if they are a legal entity.
For transfers involving self-hosted wallets above 30,000 baht, platforms must verify that the user owns or controls the wallet by confirming the person can control or access it. The SEC said most transfers should continue through normal processes when customers provide complete information and platforms are ready, but high-value transfers or cases with missing data may take longer.