Overview
Under Thai law, a digital asset or cryptocurrency exchange is a platform or network designed for trading or exchanging digital assets and/or cryptocurrencies. These exchanges facilitate transactions by matching buy and sell orders, connecting counterparties, and providing the necessary trading systems. They help individuals execute agreements or complete trades as part of their regular business operations. However, certain systems or networks may be excluded from this definition by the Securities and Exchange Commission (SEC).
Silk Legal assists digital asset exchanges, brokers, and dealers in securiting the necessary licenses from the Securities and Exchange Commission (SEC) and other regulators. We guide clients through every stage of the licensing process, from structuring a compliant legal entity to ensuring adherence to capital requirements.
Digital Asset & Cryptocurrency Exchanges
A digital asset or cryptocurrency exchange must be legally registered as a Thai limited or public limited company. Under current regulations, trading digital assets and cryptocurrencies each requires a separate license.
Silk Legal assists digital asset exchanges in obtaining the necessary licenses from the Securities and Exchange Commission (SEC) and other relevant regulators. We provide comprehensive support, from establishing a compliant legal structure to ensuring compliance with capital requirements and operational regulations. Our team helps exchanges navigate the complexities of licensing, cybersecurity, and AML/KYC obligations, ensuring they operate legally and securely within Thailand’s digital asset market.
Qualifications
Minimum Capital Requirements
A minimum of THB 50 million for centralized exchanges and THB 10 million for decentralized exchanges.
Fit & Proper Criteria
Directors, executives, and major shareholders must meet financial, managerial, and ethical standards set by the Thai SEC.
Operational & Security Standards
Exchanges must implement robust cybersecurity measures, internal controls, and anti-money laundering (AML) compliance frameworks.
Custody & Asset Protection
Secure storage solutions, including hot and cold wallets, must be in place to protect client assets.
Compliance & Reporting Requirements
Regular reporting to the Thai SEC, including financial audits and transaction monitoring, is required.
Know-Your-Customer (KYC) Procedures
Exchanges must implement strict identity verification procedures to prevent fraud and illicit activities.
Approved Cryptocurrencies
Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Stellar (XLM)
USDT/USDC
Other cryptocurrencies issued by firms under the Bank of Thailand's regulatory sandbox.
Digital Asset & Cryptocurrency Brokers
Thai law defines a digital asset broker as a person or entity that provides services to the public as an intermediary for the trading or exchange of digital assets. They facilitate transactions between buyers and sellers, and earn compensation through commissions, fees, or other forms of remuneration. Brokers must comply with regulatory requirements set by the Securities and Exchange Commission (SEC).
Silk Legal assists digital asset brokers in obtaining the necessary licenses from the Securities and Exchange Commission (SEC) and other relevant regulators. We provide end-to-end support, from structuring a compliant business entity to ensuring adherence to capital requirements and regulatory obligations. Our team helps brokers navigate the complexities of licensing, compliance, and operational requirements, enabling them to operate legally and efficiently in Thailand’s digital asset market.
Qualifications
Minimum Capital Requirements
Brokers holding and controlling client assets must have THB 25 million in capital. Those holding client assets without access must have THB 5 million.
Business Registration in Thailand
Applicants must obtain a license from the Securities and Exchange Commission (SEC) and register as a Thai limited or public limited company.
Fit & Proper Criteria
Directors, executives, and major shareholders must meet the SEC’s financial, ethical, and managerial standards.
Know-Your-Customer (KYC) Procedures
Brokers must comply with AML and KYC regulations and implement risk management and cybersecurity measures to protect client assets and ensure regulatory compliance.
Meeting Compliance Requirements
Applicants must submit regular financial and operational reports and comply with audit and transparency requirements.
Operational & Security Standards
Exchanges must implement strict cybersecurity procedures, as well as identity verification procedures to prevent fraud and illicit activities.
Digital Asset & Cryptocurrency Dealers
Under Thai law, a digital asset dealer refers to a person or entity that offers services to the public to purchase, sell, or exchange digital assets on their own account in the normal course of business, outside of a digital asset exchange.
Silk Legal assists digital asset dealers in securing the necessary licenses from the Securities and Exchange Commission (SEC) and other relevant regulators. We provide comprehensive support, from establishing a compliant legal entity to ensuring adherence to capital requirements and operational regulations. Our team helps dealers navigate the complexities of licensing, compliance, and risk management, allowing them to operate legally and efficiently in Thailand’s digital asset market.
Qualifications
Minimum Capital Requirements
Those holding and controlling client assets need THB 25 million. Those holding assets without access need THB 5 million. Those without access or control need THB 1 million.
Business Registration in Thailand
Dealers must register as a Thai limited or public limited company and obtain approval from the SEC and, if required, the Ministry of Finance.
Fit & Proper Criteria
Directors, executives, and major shareholders must meet the SEC’s financial, ethical, and managerial standards.
Know-Your-Customer (KYC) Procedures
Dealers must implement AML and KYC procedures and establish risk management and cybersecurity measures. They must maintain internal controls to ensure compliance.
Meeting Compliance Requirements
Applicants must submit regular financial and operational reports and comply with audit and transparency requirements.
Operational & Security Standards
Exchanges must implement strict cybersecurity procedures, as well as identity verification procedures to prevent fraud and illicit activities.
How Silk Legal can help you
Regulatory Assessment & Strategy
We analyze your business model and provide tailored advice on the required licenses, compliance obligations, and regulatory risks.
Business Entity Formation
Our team assists in registering your exchange as a Thai limited or public limited company, ensuring compliance with local corporate laws.
License Application Preparation
We prepare and submit applications for the necessary licenses with the Thai Securities and Exchange Commission (SEC) and other relevant regulatory bodies.
Compliance & Internal Controls
We guide you in implementing anti-money laundering (AML), know your customer (KYC), and cybersecurity frameworks that meet regulatory standards.
Liaison with Regulators
We facilitate communication with the Thai SEC, Bank of Thailand (BOT), and other authorities, ensuring that all inquiries and compliance checks are addressed effectively.
Ongoing Legal & Compliance Support
Beyond the application process, we offer ongoing legal advisory services to keep your exchange compliant with evolving regulations.
Why choose Silk Legal?
We have a deeply-rooted practice
We have been advising digital asset and fintech companies since 2016, giving us an intimate understanding of Thailand’s regulatory landscape.
We have proven success in regulatory approvals
We have assisted numerous crypto exchanges, brokers, and fintech bsuinesses obtain licenses from the Bank of Thailand (BOT), the Securities and Exchange Commission (SEC) and other regulators.
We provide business-driven legal solutions
We go beyond legal advice—we provide practical, business-focused strategies that help companies thrive. Whether you’re launching a crypto exchange, NFT marketplace, or fintech startup, we tailor our legal solutions to your goals.
Don't know where to begin? Let's start with a consultation.
Looking for expert legal guidance in Thailand? At Silk Legal, we’re dedicated to understanding your business needs and providing tailored solutions. Contact us today and let’s navigate your legal challenges together.