Thailand Cracks Down on Crypto Exchanges' Hidden Financiers

The Thai government is taking steps to tighten controls on the country's crypto sector, proposing stricter rules for exchanges and their major shareholders.

Under the proposed framework, regulators would require approval not only for direct major shareholders but also for anyone providing financial support to those shareholders behind the scenes. This includes backers working through share acquisitions, guarantors, and parties to contractual arrangements that give them a funding role.

The new regulations aim to cut off capital flows tied to unlawful activities and ensure licensed firms comply with anti-money laundering laws. The proposal is part of a wider push by Thai authorities to tighten controls across both traditional and digital finance.