On April 8, 2025, Thailand’s cabinet approved new amendments to its digital asset regulations, introducing measures to curb foreign peer-to-peer (P2P) crypto platforms and strengthen oversight of cryptocurrency activities. The laws, aimed at combating online financial crimes, mark a significant step in Thailand’s efforts to regulate its growing crypto market while protecting local investors and businesses.
New Restrictions on Foreign P2P Platforms
The updated regulations target foreign P2P platforms, classifying them as digital asset exchanges under Thailand’s Digital Asset Business Law. These platforms, which facilitate direct crypto trades between users, will now face strict barriers to operating in Thailand without local authorization. The Thai Securities and Exchange Commission (SEC) stated that the laws are designed to “deter and prevent” unregulated foreign services, limiting P2P transactions to locally licensed providers to reduce risks like fraud and money laundering.
Violators of the new rules face severe penalties, including fines of up to 300,000 baht (approximately $8,700) and imprisonment for up to three years. The laws also empower authorities to block foreign crypto asset service providers (CASPs) from offering services to Thai users, reinforcing controls over digital transactions. These measures will take effect once published in the Royal Thai Government Gazette, expected soon.
Enhanced Measures Against Cybercrime
Beyond restricting foreign platforms, the amendments introduce robust safeguards against cybercrime. Crypto service providers must now monitor transactions for links to online scams, report suspicious activities, and suspend related accounts promptly. The laws also target “mule accounts” used to launder funds, with penalties for those who knowingly allow their digital asset accounts to be used for illegal purposes. Additionally, Thailand plans to launch a national blacklist of wallets tied to cybercrime, preventing flagged accounts from initiating transactions.
The regulations extend accountability to non-crypto sectors, including banks, telecom companies, and social media platforms, which must comply with cybersecurity standards or face liability for damages caused by fraud. This collaborative approach aims to create a safer financial ecosystem amid rising crypto adoption.
Balancing Regulation and Innovation
Thailand’s crypto market has seen significant growth, with the SEC approving USDT and USDC for trading in March 2025 and exploring Bitcoin ETF options for institutional investors. The country has also trialed crypto payments in cities like Phuket, signaling a pro-crypto stance. However, the new laws reflect a cautious approach to unregulated foreign platforms, prioritizing consumer protection over unrestricted access.
Looking Ahead
Thailand’s new laws underscore its commitment to balancing cryptocurrency innovation with robust oversight. By limiting foreign P2P platforms and cracking down on cybercrime, the country aims to foster a secure digital asset environment. Crypto investors and businesses should prepare for stricter compliance requirements as enforcement begins, with potential impacts on Bitcoin and Altcoin trading dynamics.
In conclusion, Thailand’s regulatory overhaul sets a precedent for crypto governance in Southeast Asia. As the digital asset landscape evolves, these measures will shape how investors engage with cryptocurrencies in 2025 and beyond.
