Crypto Licensing in Thailand: Rules, Risks, and What’s Really Happening

When it comes to crypto licensing in Thailand, a government-mandated framework for crypto businesses to operate legally under the Securities and Exchange Commission (SEC). Also known as cryptocurrency regulation Thailand, it’s not just paperwork—it’s a gatekeeper system that can make or break a project trying to launch locally. Unlike places like the EU with MiCA, Thailand doesn’t just want you to register. They want you to prove you’re not a scam, have real office space, and can handle AML checks. And if you fail? Your tokens vanish overnight, your team gets blacklisted, and the SEC publishes your name.

Thailand’s rules hit hard in 2023 and tightened again in 2025. The Thai SEC, the main authority overseeing all crypto trading, staking, and exchange operations in the country. Also known as Securities and Exchange Commission Thailand, it now requires every Crypto Asset Service Provider, any company offering crypto trading, custody, or staking services to Thai residents. Also known as CASP, it must have at least 50 million THB in capital, a physical office in Bangkok, and full KYC for every user. That’s not a suggestion—it’s a legal requirement. If you’re running a P2P platform, a DeFi app, or even a local NFT marketplace and you’re targeting Thai users, you’re already breaking the law unless you’re licensed.

And here’s the catch: most projects don’t make it through. The application process takes 6–12 months. You need audited financials, a local legal rep, and proof you’ve trained your staff on AML compliance. The AML compliance, the mandatory system of customer verification, transaction monitoring, and suspicious activity reporting required by Thai law for all crypto firms. Also known as anti-money laundering crypto Thailand, it’s not optional. If your platform gets flagged for even one unverified wallet, you lose your license. And once you’re on the SEC’s blacklist, you can’t reapply for five years. That’s why so many Thai crypto startups moved to Singapore or Dubai. The ones that stayed? They’re either fully licensed, or they’re hiding behind offshore wallets and anonymous P2P deals.

Thailand doesn’t ban crypto. It just makes it painfully hard to run a legal one. You’ll see posts here about fake exchanges pretending to be Thai, airdrops targeting Thai users without licenses, and projects that vanished after the SEC cracked down. You’ll also find real stories from people who got licensed, the hidden costs they didn’t expect, and how everyday users are still trading crypto using bKash and TrueMoney despite the rules. This isn’t about theory. It’s about survival. And if you’re thinking of launching a crypto business in Thailand—or just holding tokens there—you need to know what’s real, what’s risky, and what’s just a trap waiting to happen.