Original sourceCoinCodeCap
Summary
Thailand's Securities and Exchange Commission (SEC) has finalized the Travel Rule, requiring licensed crypto operators to collect and verify identities of both parties in transfers, including self-hosted wallets. Operators must confirm ownership or control of the recipient's wallet before processin…
Key points
- The Travel Rule affects the transfer process for crypto exchanges and users, especially platforms operating in Thailand or interacting with Thai users.
- Thailand aligns with FATF standards, imposing new compliance requirements on cross-border transactions and privacy.
- Exchanges need to add identity verification infrastructure, and users may need to provide more information for transfers, potentially initially affecting transaction efficiency.
Editorial note
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