On January 9, 2026, Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint with the Economic Crime Suppression Division (ECD) against five individuals for unauthorized operation of a digital-asset dealer business under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). This precedent-setting case signals that the regulator is willing to pursue crypto enforcement against natural persons even in the absence of a licensed platform entity. Background and Implications The case follows the SEC’s October 2025 public warning about the use of iris-scanning technology in exchange for certain digital tokens. In its warning, the SEC cautioned that exchanging or trading these specific tokens with unlicensed service providers exposes users to heightened fraud, scam, and money laundering risks. Unlike prior regulatory enforcement matters, which involved platform-level administrative fines for operational or compliance failures, this case targets misconduct by individuals who may not be professional traders but openly advertised their willingness to buy these tokens from the public, opened individual over-the-counter (OTC) trade channels for these tokens, and facilitated off-exchange transactions in a manner resembling ordinary commercial dealing. This enforcement action establishes a clear precedent that natural persons engaging in public-facing digital-asset dealing may face criminal liability under Thai law, even without operating through a corporate or licensed platform structure. Outlook The alleged offenders may not settle this crime by payment of fines. Following the SEC’s referral, the ECD will undertake further investigation, after which prosecutors may review the case and proceed to court. The SEC has stated that it will cooperate fully with enforcement agencies throughout the criminal enforcement process.

Thailand continues to advance its legal and regulatory framework for the technology sector, with several key laws undergoing review and proposed amendments. These developments reflect Thailand’s broader efforts to ensure that its regulatory landscape keeps pace with rapid technological change and aligns more closely with international standards and best practices. The following are key legal developments and proposed legislative reforms in 2026 that are expected to impact businesses operating in the technology sector and the broader Thai business landscape. Data Privacy and Cybersecurity Personal Data Protection Act B.E. 2562 (2019) Following the full enforcement of Thailand’s Personal Data Protection Act (PDPA) in June 2022, businesses and practitioners have identified practical implementation challenges and interpretative issues. These challenges were reflected in an effectiveness assessment conducted by the Personal Data Protection Committee (PDPC) in late 2024. The PDPC published a set of principles for public consultation to identify issues and directions for potential amendments to the PDPA. Key issues: Emerging issues include clarifying the definitions of “data controller,” “data processor,” and “criminal record”; revisiting the scope of sensitive personal data to better reflect Thailand’s context; proposing amendments to the hierarchy of legal bases to avoid misconceptions of consent as the default legal basis; and clarifying the required level of expressiveness for explicit consent, as well as rules for collecting personal data from other sources. Current status: The first round of public consultation has concluded. Next steps: The proposed amendments are proceeding to a revised draft following the consultation outcomes. Cybersecurity Act B.E. 2562 (2019) Thailand is moving forward with proposed amendments to enhance the effectiveness of its national cybersecurity framework, as evolving digital technologies bring new risks such as misinformation, system intrusions, and attacks on critical infrastructure, making cybersecurity a national priority. Key issues: The amendments aim to clarify and strengthen

Thailand’s approach to cannabis regulation has moved quickly from broad access to a medical, prescription‑only system. The latest government regulation classifies the cannabis flower as a controlled herb under the Thai Traditional Medicine Wisdom Act. The latest rules ban advertising and recreational sales, allow sales only to patients with prescriptions (up to 30 days), and require flowers to come from GACP‑certified (Good Agricultural and Collection Practices) farms. More importantly, cannabis dispensaries can only sell to patients presenting valid prescriptions issued by one of seven professions—medical doctors, Thai traditional practitioners, applied Thai traditional practitioners, traditional Chinese medicine practitioners, pharmacists, dentists, and folk healers—consistent with approved clinical indications. Noncompliance risks license suspension or revocation, and criminal penalties of up to one year’s imprisonment or a THB 20,000 fine. The dispensary‑only model that proliferated in Thailand in recent years is expected to end soon, as the rules will push all cannabis dispensaries into medical settings or retail pharmacies. Dispensaries must convert into medical establishments—clinics, pharmacies, or traditional pharmacies—complete with on‑site licensed practitioners as well as budtenders; strong controls for storage, hygiene, odor, and smoke; and facilities for record-keeping. All flowers dispensed or exported must come from GACP‑certified farms. If the government ends dispensaries outright and forces a conversion to clinics or pharmacies, compensation will not be automatic at the outset. As a result, business operators should plan for compliance and repurposing under the Medical Facilities Act, Modern Drug Act, and Herbal Product Act, which regulate medical clinics, modern pharmacies, and traditional medicine pharmacies, respectively. The table below summarizes the required licenses for clinics, pharmacies, and traditional medicine pharmacies selling cannabis flowers in Thailand. Aside from the specific listed licenses, all three types of establishments must also obtain a license to sell a controlled herb (cannabis flowers) from the Department of Thai Traditional

On December 30, 2025, Thailand’s Electronic Transactions Development Agency (ETDA) notified digital marketplace operators of a consolidated list of “high‑risk products” that are subject to strict monitoring on digital platforms. The list was jointly prepared by the Thai Industrial Standards Institute (TISI) and the Food and Drug Administration (FDA) to guide platform compliance in the initial phase of implementation of the Electronic Transaction Committee’s Notification on Other Measures for Marketplace for Goods with Specific Characteristics under Section 18(2) of the 2022 Royal Decree on Digital Platform Businesses Requiring Notification B.E.2568 (2025). The notice is addressed to operators of digital platform services that function as product marketplaces with specific characteristics laid out in the notification. The ETDA states that the TISI and the FDA are closely monitoring the high‑risk product categories on digital platforms, and the published list serves as the baseline reference for platform screening during the initial phase of the notification’s implementation. High‑Risk Product List The list aggregates categories of products that are illegal to sell online or are otherwise tightly regulated under Thai law, with an emphasis on health-related products, controlled substances, medical devices, and a wide range of industrial products that require certification or compliance with specified Thai Industrial Standards, as detailed below. Prohibited and tightly controlled health products. This includes all categories of modern medicines subject to control other than general household remedies; all categories of controlled herbal products except for over-the-counter herbal products; narcotics; psychotropic substances; and medical devices requiring use in medical facilities or a physician’s prescription. Selected industrial products requiring heightened controls. The list highlights dozens of TISI-regulated items commonly sold online. Examples include pacifiers, rice cookers, electrical wire, food wrap film, crayons, washing machines and dryers, air conditioners, electric cookers and air fryers, water heaters, microwave ovens, LED luminaires, hair dryers