The Securities and Exchange Commission of Thailand has proposed new rules aimed at increasing transparency in the crypto sector by extending regulatory scrutiny to behind-the-scenes funders of digital asset firms.
Under the proposed framework, individuals or entities providing financial backing to crypto businesses, whether directly or through complex arrangements, could be subject to the same approval standards currently applied to major shareholders.
The move is designed to close regulatory gaps that allow hidden investors to exert influence without formal oversight.
The regulator said the proposal targets indirect funding structures such as nominee arrangements, guarantees, and layered investments that may obscure the true source of capital.
By broadening the definition of influential stakeholders, authorities aim to ensure that all parties with significant control or financial interest are properly vetted.
The initiative comes as part of Thailand’s broader effort to strengthen oversight of its rapidly evolving digital asset market.
Regulators have expressed concerns that undisclosed funding channels could be used to bypass existing rules, potentially exposing the financial system to risks such as money laundering and market manipulation.
If implemented, the new requirements would align hidden backers with major shareholders in terms of disclosure obligations, background checks, and regulatory approval processes. This would significantly raise compliance standards for crypto firms operating in the country.
The proposal is currently open for public consultation, with industry participants invited to provide feedback before final rules are introduced.
Market observers say the changes could increase operational complexity for crypto companies but would ultimately enhance investor protection and market integrity.
Thailand has been actively refining its approach to crypto regulation, seeking to balance innovation with robust safeguards.
By targeting indirect funding mechanisms, the latest proposal reflects a growing global trend toward tighter scrutiny of financial flows within the digital asset ecosystem.
As regulators worldwide continue to adapt to the challenges posed by decentralized finance and digital assets, Thailand’s proposed framework underscores the importance of transparency and accountability in maintaining a secure and sustainable crypto market.
