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On May 14, 2025, the Royal Thai Gazette published regulatory provisions establishing requirements for digital asset service providers operating in Thailand. The announcement, appearing in Volume 143, Section 31 of the official gazette, sets out comprehensive rules governing the licensing, operations, and conduct of entities providing services related to digital assets. The regulations establish a framework requiring digital asset service providers to obtain appropriate licensing and maintain compliance with specified operational standards. Key provisions address governance structures, risk management procedures, customer protection measures, and reporting obligations. The rules apply to various categories of service providers, including those engaged in custody, trading facilitation, and other digital asset-related activities. The regulations specify requirements for provider qualifications, including capital adequacy standards, management competency, and internal control systems. Provisions address customer due diligence, anti-money laundering and counter-terrorism financing (AML/CTF) compliance, and data protection obligations. The framework also establishes supervisory oversight mechanisms and enforcement provisions for non-compliance. Market participants and existing service providers must review the detailed requirements to ensure compliance with the new regulatory framework. The regulations establish specific timelines and procedures for licensing applications and ongoing operational compliance. Entities currently operating in the digital asset space should assess their operations against the specified standards and take necessary steps to align with the regulatory requirements. **Reference:** Royal Thai Gazette, Volume 143, Section 31, May 14, 2025

The Thai Ministry of Digital Economy and Society has issued a ministerial regulation on returning money to victims of cybercrime. The ministerial regulation prescribes: Reporting and inspection of reports mandating that financial institutions, business operators, the Royal Thai Police, and the Department of Special Investigation must report information regarding transactions related to cybercrime (including seized or frozen accounts, transaction details, and victim information) to the Anti-Money Laundering Office (AMLO) via a designated electronic system. Notification, submission, and verification of petitions requiring AMLO to publish information about accounts involved in cybercrime in the Royal Gazette and notify identified victims via registered mail, and stipulating that victims seeking restitution or involved parties filing objections must submit their petitions electronically (or by mail/in person if necessary) within 90 days of the publication. Consideration and restitution process directing AMLO officials to review petitions, determine the validity of claims (proposing proportionate restitution if funds are commingled and individual ownership is unclear), and submit recommendations to the Transaction Committee for a final order. Execution of restitution stating that once the Transaction Committee issues an order (or after a final court judgment if the order is appealed within 30 days), AMLO will coordinate with relevant agencies to release frozen funds and transfer the money or digital assets back to the victims, with any associated transfer or conversion costs deducted from the restitution amount. The ministerial regulation will come into on August 12, 2026, 90 days after its publication in the Royal Gazette.

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Thailand's Royal Thai Gazette Publishes Regulations on Digital Asset Service Providers

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Thai Ministry of Digital Economy and Society Issues Regulation on Returning Money to Victims of Cybercrime