Thailand’s government is strengthening its grip on digital assets to combat the rise in cybercrime. On April 8, the cabinet approved amendments to laws on digital asset businesses and suppression of cybercrime, the Thai Securities and Exchange Commission (SEC) reported.

The amendments aim to ban foreign cryptocurrency peer-to-peer (P2P) platforms, suppress digital asset mule accounts, and introduce harsher financial penalties and imprisonment. The amended law is pending publication in the Royal Thai Government Gazette before it comes into force.

Thailand Tightens Regulations

Under the new laws, Thai regulators are empowered to swiftly block suspicious websites and apps, particularly those operated by foreign cryptocurrency exchanges targeting Thai investors.

Additionally, anyone using or allowing others to use their crypto accounts for cybercrime now faces harsh penalties. Violators could face up to three years in prison or a fine of $8,700.As part of this new approach, Thailand will introduce a national blacklist of wallets linked to cybercrime.

Once implemented, the system will prevent these flagged accounts from initiating future transactions. In addition to these measures, digital asset firms must take on new responsibilities. These include rigorous user screening, swiftly suspending suspicious transactions, and assisting victims in recovering stolen funds.

The regulation extends accountability beyond crypto firms. Banks, telecommunications companies, and social media platforms will all share liability for damages caused by cybercrime if they fail to meet the new standards.

The Thai Securities and Exchange Commission (SEC) emphasized that these changes close existing loopholes and enhance cooperation between regulators, the Thai Digital Asset Operators Trade Association (TDO), and private firms to address online financial fraud.

Foreign Crypto P2P Services Face New Restrictions.

The SEC announced that foreign P2P operators, which are classed as digital asset exchanges under Thai law, will be prohibited from offering services to Thai users.

The move aims to mitigate risks from overseas operators and channel crypto P2P activity through local platforms under regulatory oversight.

Furthermore, Thailand strengthened its position among leading crypto-friendly nations by approving USDT for trading and payments on licensed exchanges, which came into effect on March 16, 2025.

Thailand also greatly benefited from the cryptocurrency space on March 28 after the earthquake. Binance co-founder CZ Zhao pledged to donate 500 BNB—valued at approximately $605—to Thailand and Myanmar in response to the devastating 7.7-magnitude earthquake that struck the region.