The Thai Securities and Exchange Commission (SEC) has intensified its oversight of digital asset markets with two significant moves: filing a formal complaint against application service providers Holdstation and UNO for allegedly operating a digital asset brokerage without authorization, and issuing a new Travel Rule for Digital Assets that requires operators to verify ownership of self-custodial wallets.
According to the complaint, access to information from Holdstation and UNO will be blocked starting October 1, 2026. The SEC says the entities must cease operations until they obtain proper authorization, emphasizing the regulator’s commitment to aligning Thailand's digital asset industry with international compliance standards and preventing illicit activity in unregulated trading.
Separately, the new travel rule mandates that digital asset operators conduct due diligence on customers and counterparties, collect essential information, and retain transaction records for at least five years. Operators have until February 27, 2027 to implement the changes, which target money laundering and terrorist financing risks associated with self-custodial wallets.
The Thai SEC oversees securities and digital assets, and these actions underscore a broader regulatory tightening across the crypto sector. Market participants are likely to watch for further enforcement measures, potential operational disruptions, and rising compliance costs for digital asset firms in Thailand.
