The SEC has informed digital asset investment consultants and digital asset fund managers who have been operating such businesses since before 27 November 2020 and would like to continue such business operation that they are required to apply for the respective licenses with the SEC by 24 February 2021. For more information and inquiries, please contact SEC Help Center at Hotline 1207, press 9556, 9935, 9822 or 6076. 

The criteria for considering whether or not a person operates any of the aforesaid businesses are as follows:  

(1) In the case of “digital asset investment consultant,” giving advice on digital asset investment or quoting digital asset value, and in the case of “digital asset fund manager,” giving investment management service or making digital asset investment decisions for clients, (2) Receiving compensations, either directly or indirectly, and (3) Operating such businesses regularly or giving services to the general public.  

Pursuant to Section 66 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), any person operating digital asset business without a license shall be liable to imprisonment for a term of two to five years and a fine of 200,000 to 500,000 baht, and a further daily fine not exceeding 10,000 baht for every day during which the contravention continues.

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Remarks:

-  The Ministerial Regulation Re: Granting of Approval for Undertaking Digital Asset Business (No. 2) B.E. 2563 (2020): https://capital.sec.or.th/webapp/nrs/data/8729s.pdf

-  Information for digital asset fund managers and digital asset investment consultants who started respective businesses before 27 November 2020: ​https://www.sec.or.th/TH/Pages/Shortcut/DigitalAsset.aspx#ADV