Thailand continues to advance its digital payment landscape through a phased approach. The Bank of Thailand (BOT) began with wholesale Central Bank Digital Currency (CBDC) pilots under Project Inthanon and mBridge and Retail CBDC project. Building on this momentum, the BOT launched the Programmable Payment Sandbox (Stablecoin Sandbox) in 2024 — later expanded in December 2025 — to safely test Thai Baht backed stablecoins and programmable payment solutions. Looking ahead, tokenized deposits are emerging as a promising next step — offering…
Thailand’s new Emergency Decree on technological crime imposes shared liability on financial institutions, digital asset operators, and related service providers for fraud losses, unless they meet regulatory standards. In response, the SEC has issued new requirements targeting mule accounts used in illicit transactions, requiring enhanced due diligence and account controls. Digital asset operators must strengthen onboarding, monitor transactions more closely, and suspend suspicious accounts to ensure compliance. For a more detailed analysis, click here.