Thailand: fintech & payments regulation

Who regulates

• Securities and Exchange Commission Thailand

  Primary supervisor for digital assets, securities, and derivatives; issues licenses and supervises market conduct.

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Core laws & rules

• Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (2018)

  Establishes the regulatory framework for digital asset businesses, defining cryptocurrencies and tokens, and mandates licensing for operators to ensure economic stability and investor protection.

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• Emergency Decree on Digital Asset Businesses (No. 2) B.E. 2568 (2025)

  Amends the 2018 Decree to extend regulatory oversight to foreign digital asset operators serving domestic users, requiring licenses based on specific targeting indicators.

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• Securities and Exchange Act (No. 6) B.E. 2562 (2019)

  Amends the Securities and Exchange Act to enhance capital market supervision, protect investors, and accommodate fintech innovations, granting the SEC discretionary licensing powers.

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• Derivatives Act B.E. 2546 (2003)

  Empowers the SEC to supervise derivatives trading and regulate derivatives business operators, exchanges, and clearing houses, mandating licensing or registration.

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Licensing & registration

• Digital Asset Operators

  Digital asset exchanges, brokers, custodians, and advisors must obtain licenses from the SEC. Foreign operators targeting Thai users also require licenses under the 2025 amendment.

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• Digital Token Issuers

  Issuers of digital tokens must obtain SEC approval and file prospectuses for public offerings.

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• Securities and Derivatives Business

  Entities providing securities business, asset management, derivatives brokerage, dealing, or advisory services require licensing or registration with the SEC.

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Restrictions & warnings

• Foreign digital asset operators serving Thai users are subject to licensing requirements if they exhibit specific indicators of targeting the domestic market.

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• Digital asset operators must comply with strict requirements mandated by the Emergency Decree, including investor protection and market stability measures.

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Direction of travel

• The regulatory framework is evolving to address cross-border digital asset activities, as evidenced by the 2025 amendment extending oversight to foreign operators. The SEC continues to enhance supervision and accommodate fintech innovations within the existing legal structure.

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Sources

1. Emergency Decree on Digital Asset Businesses (No. 2) B.E. 2568 · 2025-01-01
2. Securities and Exchange Act (No. 6) B.E. 2562 (2019) · 2019-01-01
3. Summary of the Securities and Exchange Act (No. 6) B.E. 2562 · 2019-01-01
4. Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) as amended · 2018-01-01
5. Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) · 2018-01-01
6. Summary of the Emergency Decree on Digital Asset Businesses B.E. 2561 · 2018-01-01
7. Derivatives Act B.E. 2546 (2003) as amended · 2003-01-01