Thailand’s Securities and Exchange Commission has issued a Travel Rule that will require supervised crypto platforms to collect and transmit information identifying the individuals or entities involved in coin transfers.
The regulator announced the rule on September 2, accompanied by an associated notification dated August 25. It will take effect on February 27, 2027, following a 180-day implementation window from its publication in the Royal Gazette.
This lead time allows operators to prepare systems for exchanging transfer data, screening transactions, and requesting the required information from customers, according to the SEC’s customer-facing Q&A.
How crypto transfers will change
SEC-supervised digital-asset operators must collect information on customers and their counterparties when coins are transferred. They must also screen counterparties and verify the credentials of any digital-asset service providers or intermediaries involved in the transfer route.
An operator issuing a transfer instruction must pass originator and beneficiary information to the receiving operator. All transfer-related records must be retained for at least five years.
Customers will encounter varying information requests depending on transfer size. When sending coins from a wallet held with a regulated platform, a customer must identify the recipient even if the transfer does not exceed 30,000 baht.
For transfers exceeding 30,000 baht, the customer must additionally provide the recipient’s province or city and country. If the recipient is a legal entity, the customer must also supply its registration number. Smaller transfers require basic recipient identification, while larger transactions call for supplementary location or entity details.
For incoming transfers between regulated operators, the recipient’s platform must collect information from the sender’s operator before permitting the recipient to move the coins out of the wallet.
The procedure becomes more specific when coins arrive at a regulated-platform wallet from a self-hosted wallet. The platform must collect sender information in the same manner as for any other transfer. If the transaction exceeds 30,000 baht, the platform must also verify that the user owns or controls the wallet by confirming the person can exercise control over or access it.
The obligation rests with the supervised operators whenever a transfer touches their services, and the Q&A does not state that every coin transfer demands proof of wallet ownership.
The rule also stops short of extending the new data checks across all platform activity. It does not apply to trades executed on an operator’s order book or to transfers and withdrawals of Thai baht, as it specifically governs coin transfers.
The SEC indicated that most transfers should continue through normal processes once customers provide complete information and platforms are prepared. High-value transfers, cases with missing data, or transactions requiring additional wallet checks may take longer to process.