Thailand Imposes Tough Crypto Transfer Rules by 2027
Thailand's Securities and Exchange Commission (SEC) has finalized its version of the crypto Travel Rule, which will take effect on February 27, 2027. The rule requires digital asset operators to collect, verify, and transmit detailed information about both parties in a crypto transfer.
The requirement is aimed at mitigating potential money laundering and terrorism financing risks associated with cryptocurrency transactions.
Thai digital asset operators must now confirm that the individual sending or receiving a transfer has actual ownership of or authority over self-custodial wallets, which can be more complex to verify than centralized platforms.
The rule also requires operators to collect originator and beneficiary details for every crypto transfer, including names and account numbers, and retain transaction records for at least five years. Regulators will have immediate access to this data during the first two years of retention.