Thailand SEC Crypto License Eligibility Checker
Check if You Need a License
The Thailand Securities and Exchange Commission (SEC) requires any business serving Thai users to obtain a digital-asset portal license. Check if your platform meets any of the seven-point test criteria:
Result
Enter your details and click 'Check Eligibility' to see if you need a license.
Key Information
License Cost: ฿1,000,000 (one-time) + ฿500,000 (annual)
Review Time: 90-120 days
Penalties for Non-Compliance: Up to ฿10,000,000 fine or 5 years in prison
Next Steps: If you need a license, follow the roadmap in the article to prepare your application.
When it comes to trading digital assets in Thailand, the rules have changed dramatically this year. Thailand Securities and Exchange Commission (SEC) is the regulator that enforces the Digital Asset Business Act and its 2025 amendments, setting strict licensing, reporting, and operational standards for every crypto exchange serving Thai users. If you’re an investor wondering whether you can keep using your favorite platform, or a foreign exchange looking to enter the market, this guide breaks down the most crucial points of the Thailand SEC crypto regulations and shows you exactly what to do next.
Why the SEC tightened the rules
Early 2025 saw a sharp rise in crypto‑related scams targeting Thai consumers. The Ministry of Finance, together with the SEC, responded by amending the Digital Asset Business Act on April 13, 2025. The aim: block fraud, curb money‑laundering, and protect investors without killing innovation. The new emergency decrees also gave the Ministry of Digital Economy and Society (MDES) a fast‑track tool to block unlicensed platforms instantly.
Who needs a license?
Any business that provides crypto services to persons in Thailand must obtain a digital‑asset portal license from the SEC. The law defines “serving Thai users” through a seven‑point test:
- Thai language on the platform or parts of it.
- Domain name ending in .th, .ไทย, or clearly Thailand‑related.
- Accepting Thai baht or Thai electronic‑money accounts.
- Specifying Thai law or courts for dispute resolution.
- Paying search‑engine providers to target Thai users.
- Maintaining an office or staff in Thailand to support local customers.
- Any other characteristic listed in SEC Notification No. TorJor.12/Aor.123/2568.
If a foreign exchange checks any of those boxes, it is considered to be operating in Thailand and must apply for a license.
Licensing requirements and fees
Applying for a license is a multi‑step process:
- Submit AML/CFT compliance documentation that meets FATF standards.
- Provide a source‑code audit from an SEC‑approved firm.
- Show proof of a minimum operating capital of ฿50 million (≈ $1.37 million).
- Pay a one‑time application fee of ฿1,000,000 ($27,400) and an annual renewal fee of ฿500,000 ($13,700).
The SEC reviews applications within 90‑120 days. As of February 2025, nine entities have secured licenses, including Bitkub, Satang, and Upbit Thailand.
Operational restrictions for licensed exchanges
Even after getting a license, exchanges face hard limits:
- No support for privacy coins (e.g., Monero, Zcash).
- Prohibited from promoting digital assets as payment for goods or services.
- Ban on deposit‑taking or lending services promising returns.
- Restrictions on advertising, wallet‑service provision, and transfers for payment purposes.
Violating any rule can trigger fines up to ฿10 million and up to five years in prison.
How the new rules affect the market
The crackdown forced major foreign platforms like Bybit and OKX to shut down their Thai operations in April 2025. Their exit opened space for local players, but liquidity has suffered. Data from the SEC shows:
- Crypto market value: $1.2 billion (Q1 2025).
- Active Thai crypto users: 4.7 million (≈23 % of adults).
- Share of domestic licensed exchanges rose from 15 % to 78 % of total volume within six months.
- Average transaction fee on local exchanges: 0.25 % vs. 0.1 % on the former foreign platforms.
Investor sentiment is split: many praise the reduced fraud (a 37 % drop in crypto‑related scam reports Q2 2025), while others complain about limited coin selections-only 35 tokens were approved by June 2025 versus more than 350 on the excluded foreign sites.
Comparison: Licensed Thai Exchanges vs. Unlicensed Foreign Platforms
| Aspect | Licensed Thai Exchanges | Unlicensed Foreign Platforms |
|---|---|---|
| Regulatory status | SEC‑approved digital‑asset portal | Operating without Thai license (illegal) |
| Allowed tokens | Bitcoin, Ethereum, 33 approved altcoins | All listed tokens, including meme and privacy coins |
| Fees | 0.25 % avg. trading fee | 0.10 % avg. trading fee |
| Withdrawal limits | ฿500,000 per day | No Thai‑specific limits (subject to foreign jurisdiction) |
| Legal recourse | Thai courts, consumer protection under SEC | Foreign legal systems, limited protection for Thai users |
Steps for a foreign exchange to get licensed
If you’re a foreign platform determined to stay in the Thai market, follow this roadmap:
- Assess the seven‑point test: Confirm whether any of the criteria apply to your service.
- Localise the UI: Translate all user‑facing pages into Thai and secure a .th domain.
- Set up a Thai corporate entity or a representative office to handle customer support.
- Integrate AML/CFT tools that report suspicious activity to the Anti‑Money Laundering Office.
- Prepare the required documentation (capital proof, source‑code audit, compliance policies).
- Submit the application to the SEC and pay the ฿1 million fee.
- Undergo a 30‑day compliance window after approval: adjust UI, update terms of service, and pass the SEC’s technical audit.
Most firms report a six‑month total implementation period, with Bitkub noting a 6‑month “full compliance” timeline after its 2024 launch.
Future outlook and upcoming changes
Regulators have already signalled the next wave of reforms:
- Q4 2025: Amendments targeting DeFi platforms, clarifying staking‑service rules.
- Q2 2026: Pilot projects for central‑bank digital currency (CBDC) integration via licensed exchanges.
- 2026: Introduction of alt‑coin ETFs, potentially unlocking $3 billion in new investment.
Analysts at CryptoCompare predict a 22 % CAGR for Thailand’s regulated crypto market through 2028, but warn that VPN‑driven offshore activity could still represent about 35 % of Thai crypto volume.
Quick takeaways
- The SEC now requires any platform serving Thai users to be licensed.
- Licensing costs ฿1 million upfront and ฿500,000 annually.
- Foreign exchanges must localise, set up a Thai entity, and meet strict AML and capital standards.
- Local exchanges enjoy legal protection but face higher fees and fewer listed tokens.
- Regulatory reforms continue - watch for DeFi rules and CBDC pilots.
Frequently Asked Questions
Do I need an SEC license if I only accept Thai baht deposits?
Yes. Accepting Thai baht triggers the seven‑point test, making the platform subject to the licensing requirement.
What penalties apply for operating without a license?
The SEC can impose fines up to ฿10 million and prison terms of up to five years, plus immediate blocking of the website by MDES.
Can I still trade meme tokens on a licensed Thai exchange?
No. The current regulations explicitly prohibit meme, fan, and most NFT tokens on licensed platforms.
How long does the licensing process take?
Typical review time is 90‑120 days, assuming all documentation is complete and meets SEC standards.
Will the SEC allow staking services in the future?
A June 2025 clarification opened limited staking, and a Q4 2025 amendment is expected to formalise the rules.
Comments
Richard Williams
October 24, 2025 AT 09:53 AMGreat rundown! The SEC’s new licensing regime is a big step toward protecting Thai investors, and it also gives legitimate platforms a clearer path to operate. If you’re already running a crypto service, start gathering the AML documentation and the source‑code audit – the sooner you begin, the smoother the approval will be. Remember that the minimum capital requirement isn’t just a number; it signals to regulators that you can absorb market swings. Keep the team focused on compliance, and don’t let the higher fees deter you from offering a solid user experience.
Elizabeth Mitchell
October 26, 2025 AT 12:09 PMThe crackdown definitely reshapes the landscape for Thai traders.
Edwin Davis
October 28, 2025 AT 14:25 PMWow!!! This is exactly what Thailand needed!!!
emma bullivant
October 30, 2025 AT 16:41 PMOne might wonder if the tightening of rules is merely a reactionary pulse or a deeper structural shift in how societies view digital trust; it feels like a paradox where freedom is curbed to safeguard liberty.
Even with a few typo’s here and there the core idea remains that regulation can coexist with innovation, provided the dialogue stays open.
Michael Hagerman
November 1, 2025 AT 18:57 PMThe crypto world in Thailand has been thrust onto a dramatic stage, and the SEC’s latest decree reads like a script for a high‑stakes thriller. First, the seven‑point test forces any platform to wear a Thai flag in its very code, demanding language, domain, and even a local office. Second, the capital hurdle of ฿50 million turns the market into a battlefield where only the well‑funded survive, and that alone reshapes the competitive map. Third, the prohibition on privacy coins feels like a moral crusade against anonymity, echoing global concerns about illicit flows. Fourth, the fee structure-฿1 million upfront and ฿500 000 annually-means that every exchange must treat compliance as a core expense, not an afterthought. Fifth, the SEC’s 90‑120 day review window pushes firms to perfect their AML policies before they even think about launch. Sixth, the mandatory source‑code audit by an approved firm adds a layer of transparency that could become a benchmark for other jurisdictions. Seventh, the strict advertising bans force marketers to get creative, perhaps focusing on education rather than hype. Eighth, the severe penalties-up to ฿10 million in fines and five years behind bars-serve as a stark reminder that negligence is not tolerated. Ninth, the rapid shutdown of Bybit and OKX showed that the SEC will act decisively when the line is crossed. Tenth, the rise of local players like Bitkub demonstrates that domestic exchanges can fill the void, even if they charge higher fees. Eleventh, the market’s liquidity dip is a temporary wound; investors will likely return once trust is restored. Twelfth, the upcoming DeFi amendments hint at a future where staking might finally get a regulated home. Thirteenth, the CBDC pilot slated for 2026 could turn licensed exchanges into gateways for a new digital baht. Fourteenth, analysts predicting a 22 % CAGR are betting on stability-something the SEC hopes to guarantee. Finally, for anyone eyeing the Thai market, the message is clear: adapt, localise, and respect the regulatory playbook, or risk being silenced forever.
Jessica Smith
November 3, 2025 AT 21:13 PMOperating without a license is reckless and harms the entire ecosystem.
Ralph Nicolay
November 5, 2025 AT 23:29 PMIn accordance with the provisions set forth by the Securities and Exchange Commission of Thailand, it is incumbent upon every digital‑asset service provider to obtain the requisite portal license prior to engaging with Thai nationals; failure to do so constitutes a material breach of statutory duty and may result in enforcement action under the Digital Asset Business Act.
sundar M
November 8, 2025 AT 01:45 AMHey folks, love seeing all the insight here! The SEC’s moves might look harsh, but they’re actually giving local startups a chance to shine. If you’re thinking about launching a platform, start building a Thai team now-you’ll need that on‑the‑ground support for the licensing process. Also, don’t forget to set up a .th domain; it’s one of the simplest ways to check the seven‑point box. Let’s keep sharing tips and help each other navigate this new landscape.