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BTC 
ETH Thailand's SEC ordered that digital asset operators must implement the "Travel Rules" before February 2027, otherwise they will lose their operating qualifications.
Thailand's Securities and Exchange Commission (SEC) has set a deadline-February 27, 2027, requiring digital asset operators to establish the systems required to comply with their final version of the encrypted "Travel Rules", and will lose their legal rights to conduct business in Thailand after the expiration of the deadline.
Under the deadline set by the country's regulators of approximately six months, licensed exchanges and other digital asset operators must be able to identify the sender and recipient of each encrypted transfer and comply with other relevant regulations.
The new digital asset compliance system being implemented in Thailand will require the carrying of identifying data, bringing crypto transactions closer to traditional bank wire transfers.
What changes will happen to Thailand's digital asset sector?
Thailand's SEC clearly listed four core obligations for digital asset operators in its announcement:
·Operators must formulate policies and procedures to deal with transfer risks;
·Identity data of customers and their counterparties must be collected;
·Companies must pass detailed information of the initiator and beneficiary to the receiving operator with the transfer order;
·Add a new requirement: Keep transaction-related records for at least five years.
Operators also face new due diligence obligations to verify any intermediaries handling funds during the transfer process and businesses on the other end of the transfer.
According to local media reports, there is another detail about the five-year data retention requirement: companies must keep records in a form that can be accessed by regulators at any time for the first two years after the transaction is completed.
Thai companies will face self-managed wallet compliance challenges
Thailand's SEC requires companies to verify whether users actually own or control the funds they transfer from self-managed wallets, which will become the most difficult obstacle to overcome.
The problem is that self-managed wallets (private keys held by individuals) do not contain the complete KYC data submitted by users when registering for exchange wallets.
Before the final text was released on September 2, the Thai SEC had held two rounds of public consultations this year: proposed principles were proposed in March and April, and draft notices were issued in June and July. The work was done with the Anti-Money Laundering Office (AMLO) and a government subcommittee that aims to correlate financial data to identify suspicious transactions, and the two sides issued interim regulations while the AMLO develops its own rules under the Anti-Money Laundering Act.
SEC Secretary General Pornanong Budsaratragoon said the rules are intended to "reduce the risk that digital asset operators will be used for money laundering and terrorist financing."
The SEC defines the entire initiative as bringing Thai regulation into line with Financial Action Task Force (FATF) standards, and FATF Recommendation 16 is the origin of crypto's "travel rules." Thailand's move was not early: the FATF estimates that as of 2026, 83% of the jurisdictions it surveyed had passed legislation related to travel rules.
The move also comes in the context of Thailand's broader regulatory push. The same week, the SEC also proposed allowing intermediaries to provide certain overseas crypto derivatives to retail investors, and issued draft rules for spot bitcoin and Ethereum exchange-traded funds.
Neighboring South Korea is on a similar schedule, with expanded travel rules set to take effect in the same month.
