New approaches aim to strengthen control over digital asset transfers, AML risk management, and the fight against technology crimes.

Thailand's Securities and Exchange Commission (SEC Thailand) has opened a public hearing on the principles for implementing the Travel Rule for digital asset business operators. The initiative is aimed at tightening control over digital asset transfers, aligning rules with international standards, and improving the effectiveness of anti-money laundering and cybercrime countermeasures.

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On March 10, 2026, SEC Thailand released a public consultation document on establishing rules for the transmission of accompanying information during digital asset transfers between market operators. The SEC's announcement states that this involves creating a risk management system that will allow for better tracking of suspicious transactions, preventing the use of digital assets in technology crimes, and aligning Thai regulations with international standards.

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According to the hearing document, the proposed rules will apply to digital asset business operators who transfer or receive digital assets on behalf of customers. The goal of the initiative is to enhance the ability of the regulator and market participants to track asset movements, reduce the risk of the market being used for money laundering or terrorism financing, and simultaneously avoid creating an excessive regulatory burden on businesses.

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The key principles of the draft stipulate that operators must establish internal policies and procedures for obtaining and transmitting information during digital asset transfers, collect data on transactions, clients, and clients' counterparties, and retain the accompanying information for each transfer for at least 5 years. The SEC separately reaffirmed these same basic principles in its official press release.

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Special attention is given to the threshold of 30,000 baht. For transactions at or above this amount, the draft requires enhanced identification data for the client and counterparty, including at least the country and province or city, and for individuals, their date of birth. For legal entities, identification numbers or LEIs may also be used if such information is available.

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The draft also establishes requirements for operators initiating a transfer to transmit transaction, sender, and recipient information along with the transfer order to the receiving operator. On pages 4–5 of the document, this is further explained by diagrams showing the logic of data exchange between the Ordering DA Operator and the Beneficiary DA Operator, while separately illustrating the approach to transactions involving self-hosted wallets.

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Among the proposed risk management measures are verifying the completeness of the received information, restricting the dispatch of transfers if the necessary data is not collected, as well as special approaches for transfers to self-hosted wallets. The document stipulates that if suspicious transactions are detected, operators must act in accordance with AML/CFT requirements, including submitting Suspicious Transaction Reports (STRs) and applying enhanced due diligence.

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Importantly, at this stage, this is a draft of principles for public discussion, not finalized rules. According to the document's text, comments were accepted until March 25, 2026, and the expected effective date for the proposed rules is July 1, 2026.

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For digital asset market participants in Thailand, this initiative is a significant signal of the further tightening of regulatory oversight regarding transactions, the identification of transfer parties, and internal control systems. For foreign investors, crypto platforms, and associated service providers, this highlights the need to proactively assess future requirements for data collection, transaction verification, and the technical integration of Travel Rule procedures.

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Read the official news: https://www.sec.or.th/TH/Pages/News_Detail.aspx?SECID=12624