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FollowingThailand has introduced new regulations: transfer from self-managed wallets requires verification of ownership
Thailand has finalized new cryptocurrency transfer rules that require licensed digital asset companies to verify ownership or control of self-managed wallets when customers send or receive digital assets through regulated platforms. The Digital Asset Travel Rules were issued by the Securities and Exchange Commission of Thailand on September 2 and will take effect on February 27, 2027. The framework covers customer and counterparty information, wallet verification, transaction monitoring and long-term record keeping.
Transfers from managed wallets face ownership verification
Licensed digital asset operators need to collect information from customers and their counterparties every time they transfer digital assets. For transfers involving self-managed wallets, the operator must verify ownership or control of the wallet. Transfers between regulated agencies also require verification of counterparty virtual asset service providers and any intermediate operators in the transaction path. When assets are transferred to another regulated agency, the originating operator must send sender and recipient information along with the transfer order. Relevant records of each digital asset transaction must be kept for at least five years and should be in a format that is convenient for timely retrieval or review by regulatory agencies.
The self-managed wallet itself can still continue to be used. The responsibility for the new rules falls on licensed intermediaries, who are required to fulfill these obligations when assets enter or leave their platforms, rather than prohibiting users from holding private keys or transferring assets directly between self-managed wallets. Thailand outlined the same wallet verification framework in a June consultation when exchanges, brokers, custodians and other operators were asked to comment on the proposed requirements by July 10.
Thailand tightens anti-money laundering controls on cryptocurrencies
The Securities Regulatory Commission of Thailand and the Anti-Money Laundering Office coordinated the formulation of these rules to expand controls on money laundering, terrorist financing and technology-related crimes. The country has also stepped up its review of stablecoin flows. Recently, Thai regulators conducted an audit of high-volume USDT transactions, with main concerns focusing on foreign sellers, cross-border transfers and transaction structures designed to conceal actual ownership. In addition to the compliance action, there is also a separate dispute: Two Thai businessmen are challenging a $42.4 million USDT freezing order in U.S. federal court. Their lawsuit focuses on Tether's ability to blacklist self-custodial USDTs before investigators obtain seizure orders, demonstrating the growing overlap between wallet controls, stablecoin issuers and law enforcement investigations.
The new regulations will take effect on February 27, 2027
Thailand developed the framework through consultation between March and July 2026 and issued a final notice on August 25. These requirements bring regulated cryptocurrency transfers closer to the FATF standards for originator and recipient information. Pornanong Budsaratragoon, secretary-general of the Securities and Futures Commission of Thailand, said the framework aims to reduce the use of licensed digital asset companies for money laundering and terrorist financing, while improving Thailand's connectivity with international markets. Licensed operators must complete the construction of wallet verification, information transmission, counterparty verification and transaction monitoring systems by February 27, 2027.
