Thailand Digital Asset Company Registration

Registering a Digital Asset Company in Thailand: Step-by-Step Guide

What counts as a “Digital Asset Business” in Thailand?

Under Thailand’s Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (“Digital Asset Decree”), operating a digital-asset business requires a license. The law covers businesses dealing with cryptocurrencies and digital tokens and imposes penalties for operating without a license. sec.or.th

The SEC Thailand recognizes (at minimum) three core categories for operators:

      • Digital Asset Exchange

      • Digital Asset Broker

      • Digital Asset Dealer
        (Other regulated roles in the ecosystem include ICO portals and certain advisory/custody functions under related rules.) sec.or.th

     

    Who are the regulators & which license do you need?

        • Licensing authority: Ministry of Finance (MOF)—grants the license after SEC review.

        • Supervisor: Securities and Exchange Commission (SEC) Thailand

          ongoing supervision, rules, and approvals.
          As a working rule of thumb, MOF issues the license; SEC evaluates and supervises. Reference

      Picking the right category

          • If you operate an order-matching venue where buyers/sellers trade: Exchange.

          • If you arrange trades for clients without running an exchange: Broker.

          • If you trade on your own account to make a market or invest: Dealer.

          • If you run token offerings: you’ll interact with SEC-approved ICO Portals and follow token-offering rules.
            Reference

        What’s new in 2025?
        Thailand has tightened oversight on offshore digital-asset businesses that serve Thai users cross-border, bringing them into the licensing perimete, and is piloting tourism-focused sandbox use cases. 
        Reference

        Timeline & end-to-end process

         

        A realistic pathway, assuming a well-prepared application package:

            1. Incorporation & local footprint (company set-up, directors, shareholding, governance).
            2. Pre-filing readiness (policies, AML/CFT framework, custody/IT, risk & compliance, PDPA, vendors).
            3. SEC application review then MOF license decision. Historic guidance indicates SEC aims to review within 90 days of a complete filing, and MOF aims to decide within 60 days after receiving SEC’s submission (total ~150 days post-complete dossier). Actual timing depends on completeness and regulator queries. Reference
            4. Go-live controls (mock runs, incident/keys drill, Travel-Rule connectivity, reporting).

           

          Core requirements you should plan for

          A. Capital & financial resources
          Minimum paid-up capital varies by license category and risk profile under SEC notifications (exchange vs. broker vs. dealer). Expect capital, liquidity, and insurance considerations to be part of the review. (Exact amounts change; we’ll confirm current numbers during scoping.) sec.or.th

          B. Governance & “fit and proper”
          Directors, managers, and key personnel must meet integrity/competency standards; structures must ensure independent risk/compliance oversight. sec.or.th

          C. AML/CFT & Travel Rule

              • Full KYC/CDD aligned with AMLO standards, suspicious-transaction reporting, sanctions screening.

              • Implementation of controls aligned with Travel Rule and current SEC/AMLO expectations (EDD for risk flags, mule-account mitigation steps). sec.or.th

            D. Custody, segregation & cybersecurity

                • Segregation of client assets from company assets; clear hot/cold-wallet policies; key management; multi-sig/threshold controls; incident & BCP/DR plans; penetration testing & logging.

              E. Market integrity & surveillance (for exchanges/dealers)

                  • Abuse prevention, monitoring (wash trading, layering, spoofing), and listing/market-making conflict management.

                F. PDPA & data governance

                    • Data-mapping, lawful bases, privacy notices, cross-border transfers, DPO/designate, vendor DPAs, aligned with Thailand’s PDPA.

                  G. Disclosures & reporting

                      • Ongoing SEC reporting, financial statements, audits; changes to management/systems may require prior approvals/notifications.

                     

                    BOT e-money & baht conversion touchpoints

                     

                    If your model involves stored value (e-money), fiat rails, or customer THB wallets, you may trigger the Bank of Thailand (BOT) e-money regime and must comply with specific supervisory rules (including IT security, fund safeguarding, reconciliation, and customer protection). We’ll map whether you need your own e-money license or should integrate with a licensed e-money operator. Bot Thailand

                     

                    How Lex Bangkok helps (packages & deliverables)

                     

                    Package A — Consultation Only

                        • Gap assessment against SEC rules & AMLO standards

                      •  

                      Package B — Consultation + Implementation (Full Service)

                          • Company incorporation & board governance pack

                          • SEC/MOF license  preparation & submission

                          • KYC consultation

                          • Responses to regulator queries until decision

                        •  

                        We also assist with SEC digital-asset licensing and BOT e-money licensing where applicable.

                         

                        FAQs

                         

                        How long does licensing take?
                        Indicatively, ~150 days from a complete submission (SEC review window ~90 days + MOF decision window ~60 days). Actual duration varies with completeness and Q&A rounds. Reference

                        Can an offshore exchange serve Thai users without a Thai license?
                        Recent changes expand coverage to offshore operators that target Thai users; licensing obligations now apply to such cross-border services. Reference

                        Do we need our own e-money license?
                        Not always. Some models integrate with a BOT-licensed e-money operator rather than obtaining your own license; we’ll assess your exact flow. Reference

                        What about ICOs and utility tokens?
                        Public offerings typically require SEC approval, disclosure, and use of an SEC-approved ICO portal, with special treatment for certain utility tokens. sec.or.th

                        What’s changing on AML/CFT?
                        Expect stronger EDD, mule-account controls, and operational restrictions until enhanced checks are passed, operators must evidence robust AML frameworks. Reference

                         

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