Thailand SEC plans Travel Rule requiring five-year crypto transfer records

Thailand’s Securities and Exchange Commission has proposed new rules requiring digital asset operators to collect, verify and retain information tied to crypto transfers under its planned Travel Rule framework. Summary Thailand’s SEC has proposed a Travel Rule requiring digital asset operators to collect and verify information tied to crypto transfers. Operators would have to verify ownership or control of self-hosted wallets and conduct checks on counterparties and service providers. Transaction records would need to be retained for at least five years, with immediate regulatory access required during the first two years. The proposal is designed to improve transaction tracing and prevent crypto services from being used for money laundering and technology-related crime. According to Thailand’s SEC, the draft notification would require operators to establish risk management systems for digital asset transfers and receipts, giving them enough information to identify transactions that may involve money laundering or technology-related crime. The proposal covers transfers between customers and regulated service providers as well as transactions involving self-hosted wallets. Operators...