BANGKOK, Thailand – The Cabinet has approved two draft royal decrees aimed at strengthening the country’s legal framework around cybercrime and digital asset businesses. The announcement, made by the Ministry of Digital Economy and Society, outlines new regulations targeting online scams, financial fraud, and cross-border cryptocurrency operations. Both decrees will take effect the day after publication in the Royal Gazette.
The first decree introduces measures for the prevention and suppression of technological crimes. Changes include new definitions for digital wallets and electronic money accounts, expanded responsibilities for digital asset businesses, and tighter controls on the misuse of telecommunications services. The decree mandates telecom providers to suspend services linked to credible cybercrime activity and grants authorities the power to remove illegal content hosted by unlicensed digital asset operators.
Refund mechanisms for cybercrime victims have also been addressed. Unclaimed funds after a ten-year period will be transferred to the Anti-Money Laundering Fund, though victims may still request reimbursement later. Institutions involved in cyber-related offenses face fines, and executives found responsible may face imprisonment. The decree also requires digital platforms to prove compliance with preventive standards to avoid liability.
The second decree addresses conditions for digital asset businesses, with new licensing requirements for foreign operators offering services to users in Thailand. Companies targeting Thai consumers through language, currency, or banking infrastructure will now be considered domestic providers under the law and must register accordingly. This measure is expected to bring cross-border operators under closer regulatory oversight.
A new Cybercrime Prevention and Suppression Operations Center will be established within the Ministry’s Office of the Permanent Secretary to monitor and report digital asset wallets linked to criminal activity. Authorities say the two decrees are expected to help reinforce cybersecurity, protect consumers, and regulate digital markets as they continue to expand in scale and complexity. (NNT)
