Thailand Mandates Crypto Transaction Data Sharing Under New Travel Rule Regulations

Thailand's Securities and Exchange Commission (SEC) has implemented new regulations to bring local rules on cryptocurrency transfers in line with international 'Travel Rule' standards. The SEC requires digital asset operators to collect and transmit information about parties involved in certain crypto transactions, mirroring the Travel Rule framework.

The new regulations, which take effect on February 27, 2027, also apply to self-custodial wallets, requiring operators to verify ownership or control of these wallets when users send or receive cryptocurrencies. This means that operators must demonstrate that the wallet being used is genuinely under the customer's control.

The SEC aims to reduce the risk of digital asset operators being used for money laundering and terrorist financing. The regulations will require more than simple transaction monitoring, as operators need processes to transmit and reconcile counterpart information, particularly where transfers cross different service providers or involve specific wallet types.