Jurisdiction reference
Thailand
Regulator: SEC Thailand. License/registration context: Licensing. 28 VASP/entity records are tracked by Plexo Institute in Thailand. Official registry source: SEC Thailand DA Register. Data last updated: 2026-09-30.
Thailand has no standalone stablecoin law, but regulates them under existing e-money and digital asset frameworks. In 2021, the Bank of Thailand clarified that stablecoins pegged to the Thai Baht are classified as e-money, requiring licenses. Algorithmic stablecoins are prohibited, while crypto-backed versions fall under digital asset laws.
Regulatory Status
- Jurisdiction code
- TH
- Regime
- Licensing
- Regulator
- SEC Thailand
- Governing law
- Emergency Decree on Digital Asset Businesses 2018
- Travel Rule
- Legislated
- Tracked entities
- 28
- Recognized stablecoin backing
- fiat-backed, crypto-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- THB
Regulatory approach
The Bank of Thailand oversees monetary policy, payments, and licensing of e-money.
Licensed entities in Thailand
30 regulated-entity records tracked in Thailand by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| 1109X | Licensed | Digital Asset Dealer |
| ACL | Licensed | Digital Asset Broker |
| Altplus Advisory | Unknown | Digital Asset Advisory Service |
| Bitazza | Licensed | Digital Asset Broker |
| Bitkub | Licensed | Digital Asset Exchange |
| Bitkub Portal | Licensed | ICO Portal |
| Coins TH | Licensed | Digital Asset Broker |
| Cryptomind Advisory | Licensed | Digital Asset Advisory Service |
| ERX | Licensed | Digital Asset Exchange |
| Fraction | Licensed | ICO Portal |
| FSP | Licensed | ICO Portal |
| Gulf Binance | Licensed | Digital Asset Exchange |
| Int X | Licensed | ICO Portal |
| Invx | Licensed | Digital Asset Broker |
| Kubix | Licensed | ICO Portal |
| Kulap | Licensed | Digital Asset Broker |
| Maxbit | Licensed | Digital Asset Broker |
| Merkle | Licensed | Digital Asset Fund Manager |
| Mobyx | Licensed | Digital Asset Broker |
| Orbix Invest | Licensed | Digital Asset Fund Manager |
| Orbix Trade | Licensed | Digital Asset Exchange |
| Soberin | Unknown | Digital Asset Fund Manager |
| T-Box | Licensed | ICO Portal |
| TDX | Licensed | Digital Asset Exchange |
| Token X | Licensed | ICO Portal |
| Tokenomics | Licensed | Digital Asset Broker |
| Upbit | Licensed | Digital Asset Exchange |
| Waanx | Licensed | Digital Asset Exchange |
| Xspring | Licensed | Digital Asset Broker |
| Z.comex | Licensed | Digital Asset Exchange |
Stablecoin laws in Thailand
Primary legal texts Plexo Institute tracks for Thailand.
- Stablecoins Regulation Policy (enacted 2021-03-17)
Clarified that Thai Baht-backed stablecoins are considered e-money under the Payment Systems Act, requiring licensing and supervision.
- Digital Asset Business Emergency Decree (enacted 2018-05-14)
Provides the legal framework for cryptocurrencies and digital tokens in Thailand, covering exchanges, brokers, dealers, and token issuers.
Central bank digital currency in Thailand
Plexo Institute tracks 1 central bank digital currency programme in Thailand.
- Digital Baht — Status: Pilot · Central bank: Bank of Thailand (BOT) · Model: Both · Technology: Proprietary
Relationship Graph
Jurisdiction FAQ
Who regulates Thailand?
The current Plexo Institute record lists SEC Thailand as the regulator for Thailand.
How many VASPs are tracked in Thailand?
28 VASP/entity records are tracked by Plexo Institute in Thailand.
What is the Travel Rule status in Thailand?
The current Plexo Institute record lists the Travel Rule status for Thailand as Legislated.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.