Thailand to require ID on crypto transfers from Feb. 27, 2027

Thailand’s Securities and Exchange Commission will require supervised crypto platforms to collect and transmit sender and recipient identities for coin transfers starting Feb. 27, 2027. The rule requires platforms to retain transfer records for five years and follows a 180-day implementation window after publication in the Royal Gazette.

The regulator announced the Travel Rule on Sept. 2 with an associated notification dated Aug. 25. The 180-day lead time is intended to give licensed digital-asset operators time to update systems to exchange transfer information, perform counterparty checks and request required details from customers, according to the SEC’s customer Q&A.

Under the rule, an operator initiating a transfer must pass originator and beneficiary information to the receiving operator. Supervised platforms must collect identity details for their customers and any counterparties involved in a coin transfer. Platforms must also verify the qualifications of any service providers or intermediaries used in the transfer route.

Customer information requirements vary by transfer size. When coins are sent from a wallet held at a regulated platform, the sender must identify the recipient even for transfers of 30,000 baht or less. For transfers exceeding 30,000 baht, the sender must provide the recipient’s province or city and country. If the recipient is a legal entity, its registration number must be provided.

Incoming transfers between regulated operators trigger data collection by the recipient’s platform. The recipient’s operator must obtain sender information from the sender’s operator before allowing the recipient to move coins out of the wallet. When a regulated-platform wallet receives coins from a self-hosted wallet, the platform must collect sender information in the same way as for transfers between operators.

For transfers from self-hosted wallets that exceed 30,000 baht, a platform may be required to verify that the user owns or controls the sending wallet by confirming the person can access or control it. The obligation to collect data and perform checks applies when a transfer touches a supervised operator’s services. The SEC’s Q&A does not require proof of wallet ownership for every transfer and does not extend these data checks to trades on a platform’s order book or to transfers of Thai baht.

The regulator noted that most transfers should proceed normally when customers provide complete information and platforms have implemented the necessary systems. High-value transfers, transactions with missing data or transfers requiring wallet-control checks may take longer to process.

Operators will need technical and administrative changes to comply, including mechanisms for exchanging originator and beneficiary details, secure storage of transfer records for five years, and procedures to request and verify extra recipient or wallet-control information. The SEC said the 180-day transition period is intended to reduce disruption by allowing firms to prepare systems and customer onboarding processes.