{ "jurisdiction_id": "TH", "jurisdiction": "Thailand", "url": "https://cryptoassets.gi/jurisdictions/thailand/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-17", "schema_version": "crypto-v2.0.0", "counts": { "modules": 8, "sourced_findings": 32, "source_register": 21 }, "modules": [ { "code": "crypto_licensing", "name": "Crypto Licensing", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#crypto-licensing-crypto-licensing", "standing_position": "Thailand regulates digital-asset businesses under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), administered by the Securities and Exchange Commission of Thailand (SEC) with license grants historically issued by the Ministry of Finance on SEC recommendation. Exchanges, brokers, dealers, fund managers, advisors and custodians must be licensed; unlicensed operation (including by foreign exchanges soliciting Thai users) triggers criminal referral and platform blocking. A regulatory sandbox and evolving ICO-portal regime supplement the core licensing framework.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "token_classification", "name": "Token Classification", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#token-classification-token-classification", "standing_position": "Thai law distinguishes 'cryptocurrencies' (payment/exchange-oriented tokens) from 'digital tokens' (investment and utility tokens) under the Emergency Decree, with the SEC determining case-by-case whether an offering falls under the Decree or the Securities Act based on the rights attached. Utility tokens are treated distinctly from investment tokens for tax purposes. Stablecoins (USDT, USDC) have been formally approved as tradable reference assets, while meme tokens, fan tokens and NFTs are barred from listing on licensed exchanges. A sovereign digital investment token (G-Token) sits outside the conventional taxonomy.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "on_chain_activity_regime", "name": "On-Chain Activity Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#on-chain-activity-regime-on-chain-activity-regime", "standing_position": "The SEC has taken a restrictive stance toward yield-bearing and decentralised on-chain activity: staking and lending services offered by licensed crypto firms were banned in 2022, and DeFi activity involving liquidity-provider or governance tokens was warned to fall within licensing scope. Asset-backed tokenization (real estate/infrastructure investment tokens) is affirmatively supported with eased retail limits. Bitcoin mining is not itself prohibited, but enforcement has targeted illegal electricity consumption associated with mining operations.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "stablecoin_regime", "name": "Stablecoin Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#stablecoin-regime-stablecoin-regime", "standing_position": "Thailand has no domestic authorized private-issuance regime for baht-denominated stablecoins: the Bank of Thailand (BOT) has deemed unauthorized baht-stablecoin issuance illegal under the Currency Act (as applied to the Terra-linked THT token). Rather than authorizing local issuance, the SEC has instead approved major foreign USD stablecoins (USDT, USDC) as tradable/reference assets on licensed exchanges, while BOT separately monitors USDT flows for cross-border and 'grey money' risk without a formal systemic-designation framework yet in place.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "consumer_protection", "name": "Consumer Protection", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#consumer-protection-consumer-protection", "standing_position": "Thailand's SEC has built out custody-segregation rules for digital-asset custodians (final 2023 rules following a 2021 draft), imposed stricter advertising controls on licensed operators, and consistently issued risk-disclosure warnings steering investors toward licensed platforms following unlicensed-platform blocking actions. ICO-portal gatekeeping (business plan, tech capacity and source-code review) provides upstream investor protection for token sales.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "tax_treatment", "name": "Tax Treatment", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#tax-treatment-tax-treatment", "standing_position": "Thailand has progressively liberalized crypto taxation: a 7% VAT exemption on crypto trading gains has applied since January 2024 without a stated expiry, personal-income-tax exemption for investment-token earnings began the same date, and a Cabinet-approved capital-gains income-tax exemption for transactions via SEC-licensed platforms runs through December 31, 2029. Utility tokens are excluded from these exemptions. The Revenue Department is separately preparing to adopt the OECD's Crypto-Asset Reporting Framework (CARF) for transparency purposes.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "cross_border_transfer", "name": "Cross-Border Transfer", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#cross-border-transfer-cross-border-transfer", "standing_position": "Thailand actively restricts outbound access to unlicensed foreign crypto platforms (blocking OKX, Bybit, CoinEx, 1000X and XT.com in 2025, following a 2024 precedent) for Digital Asset Business Act violations. A tourist-focused sandbox (TouristDigiPay/Tourist Wallet) is separately piloting regulated crypto-to-baht conversion for foreign visitors under full passport KYC, while the Bank of Thailand monitors USDT flows for cross-border 'grey money' risk absent a formal reporting-threshold regime specific to crypto.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "aml_cft_regime", "name": "AML/CFT Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/thailand/#aml-cft-regime-aml-cft-regime", "standing_position": "Crypto AML/CFT obligations for Thailand are tracked under the FIM aml_ctf baseline per the fleet's module-subscription model; no aml_cft_regime claims are produced here to avoid duplication. For disambiguation only: the Anti-Money Laundering Office (AMLO) and the Bank of Thailand participate alongside the SEC in AML supervision of digital-asset businesses (e.g. joint oversight of the TouristDigiPay sandbox, and BOT monitoring of USDT flows for 'grey money' concerns), but detailed KYC/travel-rule/SAR obligations are the province of the FIM module, not this crypto baseline.", "findings": [] } ] }