Thailand’s securities regulator has proposed new rules to tighten scrutiny over funding sources behind cryptocurrency firms, targeting both direct and indirect backers.
The Securities and Exchange Commission of Thailand said financiers supporting major shareholders would be treated as shareholders themselves and require regulatory approval.
The proposal aims to ensure crypto businesses are funded from legitimate sources and to reduce risks linked to money laundering and financial crime.
The rules would apply broadly to those providing financial backing, including through guarantees, contractual arrangements, or indirect investments via shareholding structures.
Indirect funding through layered ownership structures or share acquisitions would also fall under the expanded requirements, closing loopholes used to obscure capital origins.
The move comes as Asian regulators, including those in South Korea, consider stricter controls on crypto ownership and governance.
Thailand has already intensified enforcement, including freezing around 10,000 crypto accounts as part of a wider crackdown on illicit financial activity.