Thailand puts private wallets and offshore crypto transfers on notice in a major new crypto rule

Thailand’s Securities and Exchange Commission has issued a Travel Rule that will require supervised crypto platforms to collect and transmit information identifying the people or entities behind coin transfers.

The regulator announced the rule on Sept. 2, and an associated notification is dated Aug. 25. It takes effect Feb. 27, 2027, after a 180-day implementation period from publication in the Royal Gazette.

The lead time lets operators prepare systems for exchanging transfer data, checking transactions, and requesting required information from customers, according to the SEC’s customer-facing Q&A.

How crypto transfers will change

SEC-supervised digital-asset operators must collect information on customers and their counterparties when coins are transferred. They must also check counterparties and verify the qualifications of digital-asset service providers or intermediaries in the transfer route.

An operator sending a transfer instruction must pass originator and beneficiary information to the operator receiving it. Transfer-related records must be kept for at least five years.

Customers will face different information requests based on transfer size. When sending coins from a wallet held with a regulated platform, a customer must identify the recipient even when the transfer is no more than 30,000 baht.