Thailand’s Digital Economy and Society (DES) Ministry will present two draft laws — the Royal Decree on Digital Assets and the Royal Decree on Cybercrime Prevention and Suppression — for Cabinet approval on April 8, with expectations that the laws could come into force before the Songkran holiday on April 13, according to The Nation Thailand.
The proposals were endorsed during a meeting of DES executives and have passed a legal review by the Council of State, which suggested minor amendments to align the legislation with the mandates of the concerned regulatory bodies.
The Royal Decree on Digital Assets seeks to bring tighter regulation to peer-to-peer (P2P) cryptocurrency transactions and will empower the Securities and Exchange Commission (SEC) to monitor and oversee these activities.
The law is designed to cover not only domestic platforms but also foreign cryptocurrency platforms that interact with Thai users — including those using Thai bank accounts or local language interfaces.
Under the proposed law, any platform operating without the necessary license could face immediate access restrictions by the DES Ministry, enhancing enforcement against unauthorized digital asset activities.
Meanwhile, the Royal Decree on Cybercrime Prevention and Suppression aims to curb rising cases of cyber fraud, including scams propagated through malicious internet links and social media platforms.
The law mandates that service providers such as financial institutions, telecom operators, and tech platforms implement safeguards to prevent cybercrime.
These entities may also be held jointly liable for financial damage suffered by users due to lapses in protection.
In a key change, the Anti-Money Laundering Office (AMLO) will be authorized to return funds to fraud victims without the need for a court order, provided the money trail is clearly established. This move is expected to speed up restitution and improve consumer protection.
If approved, the decrees will bypass the standard 30-day waiting period after publication in the Royal Gazette and come into force immediately. The DES Ministry said the accelerated timeline is necessary to address urgent digital threats facing the country.