- Thailand will enforce a strict crypto Travel Rule for digital asset business operators by February next year to strengthen measures against money laundering and tech-related crimes.
Thailand’s Securities and Exchange Commission (SEC) is clamping down on illegal crypto activities with a tougher Travel Rule for digital assets. Final rules are already in place, with enforcement of the new regulations set to begin by February 27, 2027.
Thailand’s New Crypto Travel Rule
According to the SEC, the new guidelines aim to prevent and combat technology-related crimes. It aligns with the country’s anti-money laundering laws.
Under the new rules, digital asset (DA) business operators must craft strict measures to manage risks related to the transfer and receipt of crypto assets before the enforcement deadline. They should also collect information on customers and their counterparties, including intermediaries, to verify their ownership or control over self-hosted wallets.
Additionally, DA operators must keep a record of their crypto transactions for at least five years. From there, they must be ready to transmit the data to regulatory authorities as needed.
Pornanong Budsaratragoon, Secretary-General of the SEC, highlighted that the Travel Rule ensures that DA operators are not complicit in illegal transactions, particularly money laundering, terrorist financing, and technology-related crimes. It requires DA operators to exercise due diligence in accordance with Thailand’s laws and international standards, particularly those of the Financial Action Task Force (FATF), by knowing their customers’ details and tracking the flow of their funds.
“The requirements reinforce digital asset business operators’ responsibilities in overseeing their customer transactions in accordance with applicable regulations and guidelines,” said Budsaratragoon. “They also strengthen anti-money laundering measures in line with international standards (FATF), thereby enhancing confidence in Thailand’s digital asset ecosystem and supporting greater connectivity with international markets over the long term.”
Illicit Activities Linked to Crypto in Thailand
Thailand ranks 17th in Chainalysis 2025 Global Crypto Adoption Index Top 20 based on centralized and decentralized value received. A key contributor to the trend is the Thai government’s progressive approach to crypto regulation.
As early as 2018, the country had already implemented digital asset laws to define certain products and services across the industry and protect consumers amid the rising use of crypto within its jurisdiction. Over the years, it has modified the rules to keep pace with market dynamics and international standards.
Like any other market, new challenges and risks constantly emerge to test the market and regulators’ resilience. While there’s no specific data about the concentration of crypto-related financial crimes in Thailand, the Department of Special Investigations’ (DSI) probe into the notorious “Gray Chinese Capital” network found that the crime syndicate routes up to 30 billion baht (approximately $300 million) from the annual proceeds of its phone scams and online gambling activities through illegal crypto mining.
The fact that a single case alone can generate that much funding highlights why regulatory oversight in crypto has become a national priority in Thailand. Meanwhile, other illegal activities commonly linked to crypto in the country include pig butchering scams, phishing, and fake trading platforms.
