Thailand's Securities and Exchange Commission (SEC) has officially adopted a crypto travel rule, requiring digital asset operators to verify the ownership or control of self-custodial wallets when customers send or receive crypto assets. Operators must also retain transaction-related information for at least five years for regulatory review.
SEC Secretary-General Pornanong Budsaratragoon said the rule aims to reduce the risk of digital asset operators being used for money laundering and terrorist financing. The regulation was finalized after two rounds of public consultation, with the first draft proposed in March and a notification draft issued in June. The SEC said the majority of stakeholders supported the move.
Alongside the travel rule, Thailand is expanding its regulated crypto product scope. On Monday, the SEC proposed allowing intermediaries to offer specific crypto derivatives traded on regulated overseas exchanges to retail investors. Days earlier, the regulator advanced draft rules for spot Bitcoin and Ethereum ETFs and sought feedback on foreign digital asset custody requirements for funds investing in crypto.
The move aligns with global trends: the Financial Action Task Force (FATF) estimates that 83% of surveyed jurisdictions will have adopted travel rule legislation by 2026.