Thailand
ThailandAn early crypto licensing regime that welcomes onshore trading, bars crypto payments and now blocks unlicensed offshore platforms.
Key Regulatory Progress
Every law, rule and official guide on crypto in Thailand: 15 apply today, and the rest show what's coming and how regulators read the rules. Each is explained in plain words and linked to the official original.
Last checked against the originals on 5 Oct 2026.
Core framework
The primary statutes that define crypto assets and who may deal in them.
- In forceApplies today
Emergency Decree on Digital Asset Businesses (No. 2) B.E. 2568 (2025) (unofficial English translation)
In force from 13 April 2025, it extends the licensing duty to operators abroad that serve people in Thailand, judged by signs such as a Thai-language platform, a .th domain or baht payments. It underpins the blocking of unlicensed offshore exchanges.
Read the original - In forceApplies today
Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (unofficial English translation)
พระราชกำหนดการประกอบธุรกิจสินทรัพย์ดิจิทัล พ.ศ. 2561
The core statute, in force from 14 May 2018, requiring licences for exchanges, brokers and dealers and approval for token offerings. Section 7 makes licensed operators financial institutions under the AML law.
Read the original - BillBefore the legislature
SEC supports amendments to four capital market laws to strengthen supervision of the Thai capital market
The House of Representatives accepted in principle on 23 September 2026 a draft Act amending the Emergency Decree on Digital Asset Businesses, with Securities, Derivatives and Trust Act amendments approved by the Cabinet on 25 August. An extraordinary committee is now reviewing them before the Senate.
Read the original
Exchanges & custody
Licensing, conduct and custody rules for trading platforms and service providers.
- In forceApplies today
SEC launches TouristDigiPay, business operator applications start 25 September 2025
Rules in force from 24 September 2025 open an 18-month sandbox in which licensed exchanges, brokers and dealers work with BOT-regulated e-money providers so foreign tourists can convert crypto to baht. Merchants are paid only in baht.
Read the original - In forceApplies today
SEC amends digital asset business regulations to support greater variety of digital asset custodial wallet providers
Allows custodial wallet providers from qualified financial groups to serve affiliated operators, subject to independence rules. Previously only listed companies and their subsidiaries qualified.
Read the original - In forceApplies today
SEC amends regulations related to the use of digital assets as a means of payment and regulations supporting BOT Programmable Payment Sandbox
Extends the payment ban to custodial wallet providers and lets operators approved by the BOT take part in its Programmable Payment Sandbox. Effective 6 September 2024.
Read the original - In forceApplies today
SEC issues regulation prohibiting digital asset business operators from facilitating the use of digital assets as a means of payment
Bars licensed operators from promoting or supporting crypto payments for goods and services, effective 1 April 2022. It anchors Thailand's investment-only approach to crypto.
Read the original - In forceApplies today
Digital Asset Business Operators: rules, manuals and forms
The SEC's index of licensing rules for exchanges, brokers and dealers, including capital, fit-and-proper and reporting notifications. It is the starting point for any licence application.
Read the original - ConsultationDraft out for comment
SEC seeks public comments on draft notifications revising the NC requirements for digital asset business operators to support local activities
Draft rules, following a May 2026 consultation on principles, that would let brokers execute orders and hold client assets through Thai-licensed exchanges and add counterparty, settlement and fund management risk to net capital. Custodians would face tiered custody charges and per-customer wallet segregation.
Read the original
Stablecoins & payments
Issuance, reserve and redemption rules for fiat-referenced tokens and payment tokens.
- In forceApplies today
SEC adds USDC and USDT to the cryptocurrencies list
Adds USDC and USDT, from 16 March 2025, to the list of cryptocurrencies usable as exchange base trading pairs and for ICO subscriptions, under Notification Sor Jor. 9/2568.
Read the original - ConsultationDraft out for comment
SEC seeks public comments on proposed principles for supervising stablecoin transactions to mitigate financial fraud risks
Proposes, after SEC Board approval on 3 September, that stablecoins move only between the customer's own verified wallets, capped at 5 million baht a day each way per operator. It also tightens rules on off-platform deals, market makers, liquidity providers and source exchanges; comments closed on 25 September 2026.
Read the original - GuidanceNot binding law
Joint Press Release: BOT, SEC, and MOF to jointly set guidelines on the usage of digital assets as a means of payment for goods and services
The three authorities announced they would limit crypto payments to protect financial stability, while leaving room for payment innovation that poses no systemic risk.
Read the original - GuidanceNot binding law
Stablecoins Regulation Policy
Baht-backed stablecoins intended for payment may be e-money under the Payment Systems Act 2017, and issuers must consult the BOT before operating.
Read the original - GuidanceNot binding law
Thai Baht-denominated Stablecoins
Declares activity involving THT, a baht-pegged token on Terra, illegal under Section 9 of the Currency Act 1958. It signals the BOT's defence of baht monetary sovereignty.
Read the original
Tokenisation & securities
Security tokens, RWA, funds and ETFs.
- In forceApplies today
SEC amends regulations to accommodate Tokenized Funds to promote innovation in the investment sector
From 1 April 2026, mutual funds may issue units in tokenised form on blockchain, with rules for faster sale and redemption of those units.
Read the original - In forceApplies today
SEC issues rules on Government Token (G-Token) (SEC News No. 184/2568, Thai only)
ก.ล.ต. ออกหลักเกณฑ์เกี่ยวกับโทเคนดิจิทัลของรัฐบาล (Government Token)
Six SEC notifications in force from 21 July 2025, following a May 2025 consultation, make the Ministry of Finance's G-Token a digital token exempt from offering approval, prospectus and ICO portal rules. Licensed exchanges and securities firms may serve G-Token clients without new licences.
Read the original - In forceApplies today
SEC amends regulations on the initial coin offering of investment token, digital asset custodial wallet provider, and other provisions related to digital asset business operations
Removes the 300,000 baht retail cap for real-estate and infrastructure-backed investment tokens and requires SEC approval before operators take on other businesses.
Read the original - BillBefore the legislature
SEC prepares regulatory framework for digital securities to advance Thailand's capital market as a driver of the digital economy
The Cabinet endorsed on 10 June 2025 a Securities and Exchange Act amendment giving legal recognition to securities issued electronically, the basis for tokenised securities outside the digital token regime.
Read the original - ConsultationDraft out for comment
SEC seeks public comments on proposed amendments to regulations on intermediaries' facilitation of clients' investment in digital asset derivatives overseas
Would let intermediaries offer retail and wealthy clients overseas crypto derivatives that match Thai contract terms and trade on centrally cleared exchanges overseen by IOSCO Signatory A regulators; other products would be for institutions only. Comments closed on 30 September 2026.
Read the original - ConsultationDraft out for comment
SEC seeks public comments on draft regulations for crypto ETFs in Thailand and enhanced qualifications for foreign digital asset custodians engaged by funds
Draft rules, following an April 2026 consultation on principles, for passive single-asset spot Bitcoin and Ether ETFs with at least 80 percent net exposure, held mainly with Thai-licensed custodians but with qualified foreign custodians allowed where needed. Comments closed on 20 September 2026.
Read the original - ConsultationDraft out for comment
SEC prepares to permit digital asset business operators to engage in derivatives-related businesses to support the inclusion of digital assets as underlying assets
After digital assets were designated as derivatives underlyings (Notification Kor Thor. 2/2569 of 5 March 2026), proposes letting licensed crypto operators apply for derivatives licences without forming new entities. Comments closed on 20 May 2026.
Read the original
AML & travel rule
Anti-money-laundering obligations and the FATF travel rule.
- In forceApplies today
Anti-Money Laundering Act B.E. 2542 (1999) (Consolidated 1-6)
Sets customer due diligence and reporting duties for financial institutions, which include licensed digital asset operators by virtue of the 2018 Emergency Decree.
Read the original - EnactedPassed, not yet in force
SEC issues Travel Rule for Digital Assets to strengthen anti-money laundering and prevent technology-related crimes in line with international standards
Notification Sor Thor. 9/2026 requires originator and beneficiary data to travel with transfers and self-hosted wallet checks. It takes effect on 27 February 2027.
Read the original - GuidanceNot binding law
SEC advances five key measures to curb illicit funds and combat mule accounts and investment scams as a national agenda
Tightens KYC, enhanced due diligence and suspicious transaction reporting across securities and digital asset operators to counter mule accounts and scams.
Read the original
Tax
How gains, income and transactions are taxed.
- In forceApplies today
Ministerial Regulation No. 399 (B.E. 2568) issued under the Revenue Code
กฎกระทรวง ฉบับที่ 399 (พ.ศ. 2568)
Exempts individuals from income tax on gains from selling digital assets through SEC-licensed exchanges, brokers or dealers from 1 January 2025 to 31 December 2029.
Read the original
Investor protection
Market abuse, disclosure, advertising and retail safeguards.
- In forceApplies today
SEC issues warning about access restriction of Bybit, 1000X, CoinEx, OKX, and XT.COM platforms on 28 June 2025 to protect investors and prevent illegal platforms from being used as money laundering channels
Under the amended technology crime decree (No. 2) B.E. 2568, in force from 13 April 2025, the digital economy ministry blocked five unlicensed platforms from 28 June 2025 at the SEC's request.
Read the original - GuidanceNot binding law
SEC files criminal complaint against Holdstation and UNO application service providers and an alleged supporter for operating an unlicensed digital asset brokerage business, and notifies access blocking effective 1 October 2026
Complaints against the Holdstation and UNO app operators and Tools for Humanity, with access blocked from 1 October 2026. It shows Thai-language app services count as onshore business.
Read the original - GuidanceNot binding law
SEC files criminal complaint with ECD against Bitkub Online Co., Ltd. and its former directors for giving false statements, and against the former directors for making false entries in a juristic person's document to deceive any person
The SEC alleges that Bitkub's daily net capital reports hid the effect of a May 2021 hack of about 1.7 billion baht in customer assets. Bitkub remains on the SEC licence register.
Read the original
Banks & prudential
What banks may hold, custody or issue.
- In forceApplies today
Notification of the Bank of Thailand No. FPG. 6/2565 Re: Regulations on commercial banks' financial business groups undertaking digital asset related businesses and transactions
Caps banks' and banking groups' investment in digital asset businesses at 3 percent of capital and requires BOT approval for most crypto activities within the group.
Read the original - GuidanceNot binding law
Banking group's digital asset business: Supervisory approach and management of risks to the financial system
The BOT directional paper explaining why banks may take part in digital asset businesses only through ring-fenced subsidiaries with capital deductions.
Read the original
CBDC & tokenised money
Central-bank digital currency and tokenised deposit programmes.
- GuidanceNot binding law
Retail CBDC Pilot Program: Conclusion Report
Reports on the retail CBDC pilot run with financial service providers and states the BOT has no immediate plan to issue a retail CBDC.
Read the original
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