Thailand Proposes Stricter Crypto Transfer Rules Under Travel Rule Framework
Thailand's Securities and Exchange Commission (SEC) has proposed new rules requiring digital asset operators to collect, verify, and retain information tied to crypto transfers under its planned Travel Rule framework.
The proposal aims to improve transaction tracing and prevent crypto services from being used for money laundering and technology-related crime. Licensed operators would have to establish risk management systems for digital asset transfers and receipts, giving them enough information to identify transactions that may involve money laundering or technology-related crime.
The proposed controls are part of the Travel Rule framework used internationally for anti-money laundering controls, which requires covered crypto service providers to collect, share, and retain identifying information about senders and recipients. The standard extends an anti-money laundering control originally developed for traditional financial transfers to digital assets.