Thai SEC Proposes Tighter Scrutiny of Funding Sources Behind Crypto Firms
Thailand’s Securities and Exchange Commission expanded its definition of “major shareholders” for securities and digital asset businesses on March 4, 2026, to include ultimate controllers. Firms must complete their reviews and applications within 180 days. Regulatory scrutiny is increasingly focusing on the financiers behind ownership structures to prevent money-laundering proceeds from being used through funding arrangements to control companies and undermine confidence in financial markets.
The SEC published draft rules on June 9, 2026, proposing that anyone who directly or indirectly provides money, assets, guarantees, contracts or financial instruments to help a major shareholder acquire a stake should also be treated as a major shareholder and be subject to approval. Stakes backed by the same financier would be aggregated. The draft sets no fixed funding threshold, while ordinary loans from qualified financial institutions may be excluded. The consultation closed on June 23.
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The history behind this eventThai SEC Proposes Easing Derivatives Licensing Rules for Digital Asset Firms
Thailand's cabinet approved an expansion of the Derivatives Act's scope on February 10, 2026, allowing digital assets to serve as underlying assets for regulated derivatives from April 1. The move enables investors to manage price risk through instruments such as futures and brings digital asset firms under the same regulatory and investor-protection framework as traditional derivatives businesses.
Thailand's Securities and Exchange Commission launched a public consultation on April 20, 2026, proposing that licensed digital asset firms be allowed to apply directly for derivatives business licenses without establishing separate legal entities. Exchanges would have to adopt safeguards against conflicts of interest and prevent the misuse of client order information. Financial reporting standards for derivatives exchanges and clearing houses would also be revised. The consultation closes on May 20.
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