Regulatory bodies in Thailand are taking significant steps to enhance oversight in the cryptocurrency sector, emphasizing the need for transparency regarding major shareholders and their financial backers.

Stricter Oversight for Cryptocurrency Investors

This week, the Thai Securities and Exchange Commission (SEC) introduced a new regulatory proposal aimed at identifying all individuals providing financial support to major shareholders of cryptocurrency exchanges.

This move targets hidden investors, ensuring that those who provide funding — including share purchasers and contractual parties — are subject to scrutiny.

According to the SEC, these regulations aim to prevent funding from illicit activities, thereby safeguarding licensed enterprises from potential legal issues and reputational risks.

This initiative aligns with a broader strategy by Thai authorities to enhance regulations in both traditional finance and digital assets. Earlier this year, reports revealed that Thai crypto platforms had frozen numerous user accounts as part of an anti-money laundering strategy.

Additionally, a campaign addressing “gray money” issues has been rolling out since January, impacting physical markets alongside their digital counterparts.

Scope of Regulatory Review

The proposed rules indicate that the requirement for regulatory approval will extend beyond direct shareholders to any financial supporters involved in legal entities that possess cryptocurrency shares.

ก.ล.ต. ตั้งให้ “ผู้ให้ทุน” ต้องเข้ารับการอนุญาตในฐานะผู้ถือหุ้นหลัก โดยมีเป้าหมายในการป้องกันทุนสีเทาเข้ามาในตลาด

— ThaiSEC_News (@ThaiSEC_News) April 7, 2026

The SEC has clarified that these new regulations will encompass anyone considered a significant funder, irrespective of the nature of their funding arrangement.

However, a key exception has been noted for government entities—these stakeholders will only be evaluated based on their ownership at the government level, as they are already under official oversight.

Officials argue that government entities do not require additional scrutiny due to existing regulatory mechanisms.

The public can submit feedback on the proposal until April 22.

Regional Regulatory Trends

Thailand’s moves mirror actions taken by other Asian countries. In South Korea, regulators are also considering regulations aimed at limiting ownership in cryptocurrency exchanges to no more than 20%.

This trend suggests a growing focus among Asian financial authorities on transparency concerning corporate governance and funding within the cryptocurrency market.

The practical implications for Thai cryptocurrency firms will hinge on how terms like “significant funding” are ultimately defined once public comments are analyzed and a final rule is established.

Image credit to Unsplash, chart via TradingView