Thai Digital Asset Operators Required to Send Clients Tranction Report

The Securities and Exchange Commission, Thailand (SEC Thailand) has issued new rules requiring digital asset business operators to prepare and submit reports to clients on their trading and investment activities involving digital assets.

The Thai Digital Asset Association will help define the details of the required reports, which will allow customers to check the transactions and investments they make through digital asset operators.

The information in the reports can also be used for tax filings, the SEC Thailand said.

The new rules are applicable to crypto exchanges, as well as digital asset brokers, traders and fund managers.

To allow businesses time to adjust, digital asset business operators will until 30 April only be required to send the reports to customers upon request.

From 1 May onwards, business operators have to submit a report to the customer within one day after a transaction is completed. The reports should allow customers to view transactions going back 18 months.

Source: Regulation Asia