The Emergency Decree on Digital Asset Businesses (No. 2) B.E. 2568 was enacted in response to the surge of financial crimes involving digital assets, where offenders convert illicit funds into cryptocurrencies and transfer them through anonymous wallets, obstructing legal tracing and recovery efforts.
The Decree aims to regulate foreign digital asset platforms that provide services to Thai users and to close regulatory gaps that previously allowed criminals to exploit cross-border digital platforms.
Key Provisions
- Extraterritorial Application
- Extends Thai jurisdiction to foreign digital asset business operators providing services to persons in Thailand.
- Such operators must obtain a license from the Ministry of Finance upon the recommendation of the Office of Securities and Exchange Commission (SEC).
- Scope of Thai Connection
Foreign platforms are deemed to serve persons in Thailand if they:- Use the Thai language in their platform or communications;
- Operate under a “.th” or “.ไทย” domain or other Thailand-related name;
- Accept payment in Thai Baht or via Thai financial accounts;
- Specify Thai law or Thai court jurisdiction in contracts; or
- Maintain local offices, personnel, or representatives in Thailand.
- Regulatory Enforcement
- The Ministry of Digital Economy and Society (MDES) may block access to unlicensed platforms that violate the Decree.
- Legal Basis
- Enacted as an urgent measure under Section 172 of the Constitution to preserve national economic security and combat money laundering and technological crimes.
Emergency Decree on Digital Asset Businesses (No. 2) B.E. 2568 _Bangkok Global Law