{"id":72687,"date":"2023-01-18T11:33:04","date_gmt":"2023-01-18T09:33:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72687"},"modified":"2025-09-09T09:45:49","modified_gmt":"2025-09-09T06:45:49","slug":"thai-sec-publishes-rules-for-crypto-wallet-operators","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/thai-sec-publishes-rules-for-crypto-wallet-operators\/","title":{"rendered":"Thai SEC publishes rules for crypto-wallet operators"},"content":{"rendered":"<p>The Securities and Exchange Commission of Thailand (SEC) has required <span data-descr=\"providers of virtual asset services\" class=\"old_tooltip\">VASP<\/span>, which specialise in providing custodial services, to establish a system for managing digital wallets. The regulator&#8217;s site says on <a href=\"https:\/\/www.sec.or.th\/EN\/Pages\/News_Detail.aspx?SECID=9827\">this page<\/a>.<\/p>\n<p>The aim of the regulation is to ensure &#8216;effective custody&#8217; of client funds and keys. Under the rules, VASP must:<\/p>\n<ul class=\"wp-block-list\">\n<li>develop policies and guidelines for risk management controls, and ensure communication with supervisory authorities on this matter;<\/li>\n<li>prepare an incident-response plan and organise regular security audits.<\/li>\n<\/ul>\n<p>In addition, the SEC has required operators to provide information on the development and management of digital wallets and keys.<\/p>\n<p>The new rules took effect on 16 January 2023.<\/p>\n<p>In August 2021, the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/thai-authorities-propose-regulatory-framework-for-crypto-custodians\">proposed a regulatory framework<\/a> for crypto custodians. According to the regulator, the rules will strengthen investor protection and the reliability of VASP.<\/p>\n<p>In February 2022, Thai authorities abandoned the 15% income tax on digital asset transactions.<\/p>\n<p>Later, the country\u2019s government <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-extends-vat-exemption-for-cryptocurrency-transfers-through-the-end-of-2023\">exempted cryptocurrency transfers involving licensed exchanges from <span data-descr=\"value-added tax\" class=\"old_tooltip\">VAT<\/span> until the end of 2023.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission of Thailand (SEC) has required virtual asset service providers specialising in custodial services to establish a system for managing digital wallets. The regulator&#8217;s site says.<\/p>\n","protected":false},"author":1,"featured_media":72688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,36,1266],"class_list":["post-72687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-regulation","tag-thailand"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72687"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72687\/revisions"}],"predecessor-version":[{"id":72689,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72687\/revisions\/72689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72688"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}