Thailand’s SEC issues rules on management of digital wallets for custody of digital assets and keys
The Securities and Exchange Commission (SEC) has issued regulations requiring digital asset business operators that provide custody of clients’ digital assets to establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets.
The regulations have taken effect since 16 January 2023. Pursuant to the transitional provisions, digital asset business operators who had provided custody of clients’ assets prior to the effective date of the regulations are required to fully comply within six months as from the effective date.
