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Southeast Asia

Thailand

An early crypto licensing regime that welcomes onshore trading, bars crypto payments and now blocks unlicensed offshore platforms.

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Licences

What it takes to operate in Thailand: 6 licences, who issues each, what it covers and who holds one.

Licences over time

New licences each year, those cancelled, revoked or surrendered, and how many hold one.

Hold a licence now
7
New in 2026 so far
0
Cancelled in 2026 so far
0

Partial record. BiTherb (licensed in early 2019) and ERX, later KuCoin Thailand (licensed July 2020 and off the register by October 2026), are left out because no verified end date was found. From the official register and the regulator's notices, read 10 Oct 2026.

See the numbers
YearNewCancelledHolders
2024–−17
2023+2–8
2022+1−16
2021–−16
2020+3–7
2019+4–4

Digital asset exchange licence

SEC · Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), s.26, as amended in 2025

Operating a centre or network that matches orders or otherwise facilitates trading of cryptocurrencies and digital tokens.

What it takes
  • Thai limited company licensed by the Minister of Finance on SEC recommendation
  • Minimum paid-up capital and ongoing net capital rules set by SEC notification
  • Segregation of client money and digital assets, with client-level records
  • KYC, CDD and suspicious transaction reporting to AMLO as a financial institution
  • SEC approval of directors, executives and major shareholders
  • Travel Rule data transmission for transfers from 27 February 2027

Holders include

7holders, 5 Oct 2026Register

Digital asset broker licence

SEC · Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), s.26, as amended in 2025

Acting as broker or agent for clients buying, selling or exchanging digital assets for a fee.

What it takes
  • Minister of Finance licence on SEC recommendation
  • Capital and net capital requirements, with segregation of client assets
  • KYC, CDD and AMLO reporting duties
  • No facilitation of digital assets as a means of payment for goods and services
  • Proposed September 2026: liquidity providers and source exchanges must be regulated, and brokers may route orders and custody through Thai-licensed exchanges

Holders include

14holders, 5 Oct 2026Register

Digital asset dealer licence

SEC · Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), s.26, as amended in 2025

Buying and selling digital assets for the operator's own account with clients, outside a digital asset exchange.

What it takes
  • Minister of Finance licence on SEC recommendation
  • Capital and net capital requirements set by SEC notification
  • KYC, CDD and AMLO reporting duties
  • No facilitation of digital assets as a means of payment

Holders include

5holders, 5 Oct 2026Register

Digital asset custodial wallet provider licence

SEC · Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), as amended in 2025, and Ministry of Finance notifications

Safekeeping digital assets and private keys on behalf of clients and other licensed operators.

What it takes
  • Minister of Finance licence on SEC recommendation
  • Since January 2025, open to qualified financial groups that meet SEC independence rules
  • Segregation of client assets and IT and cyber security controls
  • No facilitation of digital assets as a means of payment
  • AMLO reporting as a financial institution

Holders include

3holders, 5 Oct 2026Register

ICO portal approval

SEC · Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), digital token offering provisions

Operating the electronic system through which new digital tokens, including investment tokens, are offered to the public.

What it takes
  • Approval by the SEC before operating
  • Screening of issuers and token features before any public offering
  • Retail limit of 300,000 baht per person for most investment tokens, lifted in 2024 for real-estate and infrastructure-backed tokens
  • Investor suitability assessment at least once every two years (rules amended November 2025)
  • KYC, CDD and AMLO reporting duties

Holders include

8holders, 5 Oct 2026Register

Digital asset fund manager and advisory licences

SEC · Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), as amended in 2025, and Ministry of Finance notifications

Managing digital asset portfolios for clients, or advising clients on digital asset investment (3 fund managers and 2 advisers). Since 16 March 2025, securities firms and asset managers licensed to manage mutual and private funds have not needed a separate digital asset fund manager licence.

What it takes
  • Minister of Finance licence on SEC recommendation
  • SEC conduct standards on suitability and disclosure to clients
  • Fit-and-proper directors and approved personnel
  • KYC, CDD and AMLO reporting duties

Holders include

5holders, 5 Oct 2026Register

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