Thailand SEC finalizes crypto Travel Rule for self-custodial wallets

Thailand’s Securities and Exchange Commission (SEC) has finalized new ‘Travel Rule’ requirements for digital asset operators, aimed at increasing transparency and reducing financial crime. The regulations, which are set to take effect on February 27, 2027, require licensed digital asset businesses to collect and transmit identifying information regarding both senders and recipients of cryptocurrency transfers.

A significant aspect of the new framework is the inclusion of self-custodial or self-managed wallets. When customers transfer assets to or from a wallet where they hold the private keys, regulated operators must verify that the customer actually owns or controls that wallet. For transactions involving 30,000 Thai baht or more, additional ownership and control checks will be mandatory.

In addition to identity verification, operators are required to maintain transaction records for at least five years. For the first two years, this data must be stored in a format that allows regulators to access and review it without delay. SEC Secretary-General Pornanong Budsaratragoon stated that these measures are intended to ‘reduce the risk of digital asset operators being used for money laundering and terrorist financing.’