Thailand's Cryptocurrency Landscape: Legal Framework and Regulatory Developments

Cryptocurrency is legal in Thailand and operates under a comprehensive regulatory framework established by the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). The Securities and Exchange Commission (SEC) of Thailand oversees digital asset businesses, including exchanges, brokers, dealers, and custodians. These entities must obtain licenses and adhere to strict compliance standards to ensure investor protection and market integrity.

In recent years, the SEC has implemented additional regulations to address emerging risks in the digital asset space. Notably, in June 2021, the SEC prohibited digital asset exchanges from offering services related to certain utility tokens and meme-based cryptocurrencies to mitigate potential market manipulation and investor harm.

The SEC Board has approved new rules that prohibit digital asset exchanges from providing services in relation to utility tokens and certain types of cryptocurrencies (1).

Furthermore, the SEC has taken steps to prevent the use of digital assets as a means of payment for goods and services, citing concerns over financial stability and consumer protection. In April 2022, regulations were enacted to restrict digital asset business operators from facilitating such transactions.

The Bank of Thailand (BOT) is also actively exploring the development of a Central Bank Digital Currency (CBDC) to modernize the country's financial infrastructure. The CBDC aims to serve as a digital equivalent of the Thai baht, enhancing payment efficiency and supporting financial innovation.

Source:
(1) Securities and Exchange Commission Thailand
(2) Bank of Thailand

Last updated: 08-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.