New Digital Asset Business Requirements For Businesses In Thailand

On November 26, 2020, the Notification of the Ministry of Finance Re: Addition to Other Business Relating to Digital Assets B.E. 2563 (2020) (the Digital Asset Business Notification) and the Notification of the Ministry of Finance Re: Licensing of Digital Asset Business No. 2 B.E. 2563 (2020) (the Digital Asset Business Licensing Notification) were published in the Thai Government Gazette.

Additional Digital Asset Businesses

The new Digital Assets Business Notification adds two new categories of digital assets business to the list prescribed in the Royal Decree on Digital Asset Businesses B.E. 2561 (2018).

• Digital Asset Fund Manager is defined as a person who manages funds from digital assets for another person for benefits, or holds themselves out to the general public as being ready to do so, in the ordinary course of business. It does not include the management of digital assets as prescribed by the Securities and Exchange Commission (SEC).