Thailand Cracks Down: New Crypto & Gold Regulations Target ’Grey Money’ Flow
Bangkok tightens the screws. Thailand's financial regulators just rolled out a fresh set of rules for cryptocurrency and gold transactions—a direct move to clamp down on illicit capital movement.
The Regulatory Squeeze
Forget the Wild West days. The new framework demands stricter Know-Your-Customer (KYC) checks and enhanced reporting for digital asset exchanges and bullion dealers. The goal? To strip anonymity from high-value transfers that often skirt traditional banking channels.
It’s a classic regulatory tango: legitimize the asset class while fencing off its shadowy uses. Authorities are betting that by shining a light on these alternative vaults, they can choke off unofficial capital flight and tax evasion. One finance veteran quipped it's like watching a cat try to herd lightning—admirable, but good luck keeping up with the next innovation.
The move signals a broader maturation. As digital assets cement their role in global finance, nations like Thailand are moving past outright bans to controlled integration. The message is clear: play in our sandbox, follow our rules. The era of easy loopholes is closing, one compliance form at a time.
AML Rules Tighten For Physical Gold Purchases
A central part of the plan is a Data Bureau, a shared system that links datasets from relevant agencies via Open API to give authorities a single view of suspicious activity across gold, digital assets, e-wallets, foreign exchange and cash, without creating a new standalone agency.
On the gold side, anti-money laundering authorities have been told to cut the mandatory reporting threshold for gold bar purchases from the current 2M baht level to a significantly lower figure, aiming to reduce “smurfing,” where large sums get split into smaller transactions to dodge detection.
Regulators also want to bring online gold trading under tighter supervision. The Revenue Department is studying a new specific business tax for platforms that facilitate gold trades without physical delivery, and the government wants stricter accounting, special accounts for providers, and reporting that allows state audits.
Thailand Aims To Seal Loopholes Between Gold, Cash And Crypto
That gold focus also ties into the currency story. Officials have linked unusually large gold-related flows to the baht’s strength, and Reuters has reported the finance ministry is exploring a tax and possible trading caps after the baht gained about 10.3% in 2025, raising pressure on exporters and tourism-linked businesses.
For crypto, the Securities and Exchange Commission has been ordered to strictly enforce the Travel Rule, requiring digital asset providers to identify both the sender and receiver in wallet to wallet transfers, tightening the net around flows that previously relied on anonymity.
Anutin framed the push as an update to enforcement that covers old and new channels at the same time.
“Today, we are not only addressing modern digital threats but also ‘analogue’ financial crimes,” he said, adding, “We must work as a single, integrated force to protect the public interest and the integrity of our financial system.”
For exchanges, brokers and other service providers, the shift means heavier compliance expectations, more identity checks, and tighter reporting on transfers that touch regulated platforms, as Thailand tries to make it harder for illicit funds to jump between gold, cash and crypto without leaving a trail.
