Crypto Law Profile
Thailand’s Digital Asset Business Decree regulates digital token offerings and licensed digital asset businesses, with SEC/MOF supervision, client-asset, AML, market-abuse, and 2025 offshore-platform amendments.
Thailand’s Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) is the national statute for digital asset business supervision, digital token offerings, and digital asset market conduct in Thailand. The decree was published in the Government Gazette on May 13, 2018 and came into force on May 14, 2018. As of June 5, 2026, it remains in force as amended, including the 2025 No. 2 amendment addressing offshore platforms serving users in Thailand.
The decree defines digital assets as cryptocurrencies and digital tokens. Cryptocurrencies are electronic data units used as a medium of exchange for goods, services, rights, or exchanges between digital assets. Digital tokens specify rights to participate in an investment project or business, or rights to acquire specific goods, services, or other rights under an issuer-holder agreement.
The decree originally categorized digital asset businesses as exchanges, brokers, dealers, and other digital-asset-related businesses prescribed by the Minister of Finance on the SEC’s recommendation. Thailand’s SEC has since described six supervised operator types: exchange, broker, dealer, fund manager, advisory service provider, and custodial wallet provider.
Public offerings of newly issued digital tokens generally require an eligible juristic-person issuer, SEC Office approval, registration statement and draft prospectus filing, and use of an approved digital token portal service provider. Token offerors also have ongoing reporting duties for business results, financial condition, and holder-impacting information.
The Emergency Decree on Digital Asset Businesses (No. 2) B.E. 2568 (2025) expanded the licensing perimeter to include a digital asset business operator that operates outside Thailand but provides services to persons within Thailand, unless the SEC specifies an exception. Relevant characteristics include Thai-language displays, “.th” or Thai-language domains, Thai-baht payments or Thai accounts, Thai-law clauses, search-engine access targeting users in Thailand, local offices, local entities, or local support personnel.
The SEC stated that the 2025 amendments took effect on April 13, 2025 and allow Thai authorities to more quickly restrict unlicensed foreign digital asset platforms soliciting or advertising services to investors in Thailand.
| Date | Event | Status |
|---|---|---|
| March 13, 2018 | Cabinet approved the draft emergency decrees in principle. | Approved in principle |
| May 10, 2018 | Emergency Decree given by the King. | Adopted |
| May 13, 2018 | Published in the Government Gazette. | Published |
| May 14, 2018 | Digital Asset Business Law came into force. | In force |
| August 14, 2018 | Deadline for pre-existing operators to apply under the transition provision. | Transition |
| April 13, 2025 | No. 2 amendment took effect, clarifying offshore-platform reach. | In force |
Editors should classify the decree as Thailand’s in-force digital asset business, token issuance, custody, AML, and market-conduct framework. The English SEC translation is useful for reference, but it notes that only the original Thai text has legal force.
Defines digital assets as cryptocurrencies and digital tokens, with SEC power to specify additional electronic data units.
Public digital token offerings require eligible issuers, SEC Office approval, registration statement and draft prospectus filing, and an approved portal.
Digital asset business operators must obtain a Minister of Finance license on SEC recommendation, subject to prescribed procedures and fees.
SEC materials identify six supervised types: exchange, broker, dealer, fund manager, advisor, and custodial wallet provider.
Operators holding client assets must keep separate client accounts, segregate client assets, and avoid using those assets for other purposes.
Digital asset business operators and token portal providers are treated as financial institutions under Thailand’s AML law.
The decree includes market-conduct rules for false statements, inside information, manipulation, and related exchange-trading misconduct.
The 2025 amendment treats specified offshore operators as serving persons in Thailand and therefore within the licensing perimeter.
Cabinet approved in principle the draft digital asset and Revenue Code emergency decrees.
Emergency Decree was given by the King under the 2018 text.
The decree was published in the Government Gazette.
The decree became effective and Thailand’s SEC announced the Digital Asset Business Law was in force.
Pre-existing operators that wished to continue operations had to file an application by this date.
SEC amendments on digital assets as means of payment and BOT sandbox participation took effect.
SEC digital asset business regulations for custodial wallet provider arrangements took effect.
Offshore-platform and cybercrime-related amendments took effect under No. 2 B.E. 2568.
Minister of Finance, Ministry of Digital Economy and Society, Ministry of Finance, SEC Office, Thai SEC
Cryptocurrencies, Digital assets, Digital tokens
National Thai emergency decree. Treat as in force and as amended; English translations are unofficial references, and the original Thai text controls.
