Thailand's Securities and Exchange Commission has issued a Travel Rule requiring supervised crypto platforms to collect and transmit information identifying the parties involved in coin transfers. The rule takes effect February 27, 2027, following a 180-day implementation period from publication in the Royal Gazette.
New Requirements for Crypto Platforms
Licensed digital-asset operators must collect customer and counterparty information for all coin transfers and verify the qualifications of service providers involved in the transfer route. Transfer-related records must be retained for at least five years.
When sending coins from a regulated platform wallet, customers must identify the recipient regardless of transfer size. For transactions exceeding 30,000 baht, customers must also provide the recipient's province or city and country. If the recipient is a legal entity, customers must supply its registration number.
Verification for Self-Hosted Wallets
When coins arrive at a regulated platform from a self-hosted wallet and the transaction exceeds 30,000 baht, the platform must verify that the sender owns or controls the wallet. This verification requirement may cause delays for transactions with missing information.
The rule applies only to coin transfers and does not extend to trades on an operator's order book or to Thai baht transfers and withdrawals.
Implementation Timeline
The SEC announced the rule on September 2, with an associated notification dated August 25. The 180-day lead time allows operators to prepare systems for exchanging transfer data, conducting checks, and requesting required information from customers. Most transfers should continue through normal processes when customers provide complete information and platforms are prepared, though high-value transfers or those requiring additional wallet verification may take longer.
