Thailand Issues Travel Rule for Licensed Crypto Platforms

Thailand’s Securities and Exchange Commission (SEC) has announced a new Travel Rule that will require all supervised crypto platforms to collect and share identifying information for coin transfers. The rule was announced on September 2, with an implementation date of February 27, 2027, following a 180‑day preparation period after publication in the Royal Gazette.

Key Requirements for Operators

Under the rule, licensed digital‑asset service providers must:

• Gather originator and beneficiary details for every transfer and transmit that data to the receiving operator.
• Retain transfer‑related records for a minimum of five years.
• Verify the qualifications of any intermediary service providers involved in the transfer route.

Customer Information Based on Transfer Size

Customers using a regulated platform will face different data requests depending on the amount transferred:

• For transfers up to 30,000 baht, only basic recipient identification is required.
• For transfers exceeding 30,000 baht, the platform must also collect the recipient’s province or city, country, and, if the recipient is a legal entity, its registration number.

Handling Self‑Hosted Wallets

When coins are sent from a self‑hosted (private) wallet to a regulated platform, the receiving operator must collect the same sender information as it would for a transfer from another regulated platform. If the amount exceeds 30,000 baht, the operator must also verify that the sender controls the wallet, typically by confirming access or ownership.

Scope and Limitations

The rule applies specifically to cryptocurrency transfers and does not extend to:

• Trades executed on an operator’s order book.
• Transfers or withdrawals of Thai baht fiat currency.

Most transfers are expected to proceed normally once customers provide complete information and platforms have the necessary systems in place. High‑value transfers, incomplete data, or cases requiring additional wallet verification may experience longer processing times.