Thailand’s Securities and Exchange Commission has opened a proposal that would tighten compliance duties for digital asset operators under a new Travel Rule framework. The draft would require firms to collect, verify, and store information connected to crypto transfers, including cases involving self-hosted wallets.
The proposal is aimed at improving transaction tracing and limiting the use of crypto services for money laundering and other crimes. Thailand’s SEC said the measures were developed in coordination with the country’s Anti-Money Laundering Office, and public feedback is open until July 10, 2026.
Broader data collection for transfers
Under the proposal, digital asset operators would have to gather customer and counterparty information tied to crypto transfers. The rules would apply both to transfers between customers and regulated service providers and to transactions that involve self-hosted wallets.
The SEC’s draft also calls for checks on the service providers involved in a transfer. In practice, that would expand compliance reviews beyond a firm’s direct customer to include other parties taking part in moving funds.
Self-hosted wallets included in the draft
A notable part of the proposal is its treatment of self-hosted wallets. Operators would be required to verify ownership of those wallets or confirm that a user has the authority to control them before processing relevant transfers.
The draft would also extend counterparty checks to other service providers involved in those transactions. That would bring self-hosted wallet activity more directly into the same monitoring framework applied to transfers involving regulated platforms.
Five-year retention and rapid access rules
The SEC is proposing a minimum five-year retention period for records supporting every transfer. Those records would need to document the information collected and verified as part of the transfer process.
For the first two years of that retention window, the records would have to be kept in a format that can be retrieved immediately for supervisory authorities. The requirement is designed to ensure regulators can access transaction data quickly when conducting oversight or tracing activity.
AML focus and consultation timeline
The regulator said the measures are intended to strengthen transaction monitoring and make crypto transfers easier to trace. The stated objective is to reduce the risk that digital asset services are used for money laundering or other criminal activity.
The SEC worked with Thailand’s Anti-Money Laundering Office on the proposed controls. The consultation remains open for public comment until July 10, 2026, which is the next confirmed step before any final rule is considered.
Source: crypto.news