Thailand Moves to Track Crypto and Gold Flows in Real Time

• Thailand orders crackdown on gold and crypto to curb grey money and capital leaks.
• Centralized data bureau links banks, bullion and crypto for real-time surveillance.
• Gold trading and crypto now face stricter reporting, Travel Rule, and FX limits nationwide.

Thailand’s government has ordered a financial crackdown, targeting gold trading and digital assets. Prime Minister Anutin Charnvirakul and Finance Minister Ekniti Nitithanprapas led the move to counter grey money, tighten capital controls, and strengthen oversight. Authorities acted after identifying gaps exploited by criminal networks, using integrated data systems and stricter enforcement tools.

Centralized Data Becomes the Enforcement Backbone

At the core of the strategy is a national Data Bureau designed to link financial records across agencies. According to officials, the bureau will connect banks, bullion traders, crypto platforms and regulators through Open API systems. This structure allows authorities to view transactions across gold, cash, foreign exchange, e-wallets and digital assets in one system.

Notably, officials stressed the bureau will not form a new agency. Instead, it will centralize data access to close blind spots between existing regulators. Authorities plan to monitor suspicious activity in near real time, rather than rely on delayed reporting.

This change shows Thailand’s push toward continuous financial surveillance rather than fragmented rule enforcement. According to the Finance Ministry, investigators will build risk profiles that trace money flows as funds move between asset classes. As a result, criminal syndicates face fewer opportunities to exploit regulatory gaps.

However, data integration also ties into broader capital-flow governance. Officials believe unified monitoring can help detect abnormal flows that affect currency stability. That concern leads to tighter scrutiny of the gold market, which regulators view as a key pressure point.

Gold Trading Draws Sharper Regulatory Focus

Gold trading has become a major focus because of how big and liquid the market is. Authorities have ordered the Anti-Money Laundering Office to reduce the amount that triggers mandatory reporting for gold bar purchases. Before, only buys over two million baht had to be reported.

With the new rules, officials want to stop “smurfing,” where people break large amounts of money into many small purchases to avoid detection. They point out that physical gold can take in large sums of money while requiring very little disclosure. This feature has made gold an attractive intermediary for laundering funds.

Online gold trading also faces new oversight. The Revenue Department is studying a specific business tax for platforms offering gold trades without physical delivery. In addition, service providers must maintain stricter accounting records and special accounts for audits.

Currency concerns further drive the crackdown. According to Reuters, gold-related flows have contributed to the baht’s unusual strength. The baht gained about 10.3 percent in 2025, pressuring exporters and tourism-linked businesses.

Bank of Thailand Governor Vitai Ratanakorn stated that gold trading through baht-based applications distorted foreign exchange flows. Authorities plan daily caps on foreign currency transactions, set at 800,000 baht per individual. These measures link gold oversight directly to capital control objectives.

Related: Thailand Revamps ICO Rules with 2-Year Suitability Tests

Crypto Oversight Expands Under Travel Rule 

Digital assets now fall under the same enforcement framework. Thailand’s Securities and Exchange Commission has been ordered to strictly enforce the Travel Rule. This rule requires digital asset providers to identify both senders and recipients in wallet-to-wallet transfers.

Notably, the rule removes anonymity protections once relied upon by illicit actors. Exchanges, brokers, and service providers must strengthen identity checks and reporting systems. Officials intend to prevent crypto from becoming an alternative escape route as gold oversight tightens.

Prime Minister Anutin framed the approach as covering both modern and traditional channels. He stated authorities must address digital threats and analogue crimes together. The government has coordinated efforts with the Bank of Thailand, AMLO, and the Revenue Department.

According to the Thai Gold Traders Association, total gold trading reached about 10 trillion baht last year. Daily volumes have at times exceeded stock exchange turnover, with gold deals accounting for over half of dollar trading during peaks.

Major bullion dealers, representing roughly 90 percent of the market, plan to upgrade platforms for dollar-based settlements. Officials expect this shift to ease baht pressure while maintaining tighter oversight across assets.

Thailand’s crackdown consolidates data control, gold regulation, and crypto surveillance into one enforcement structure. Authorities aim to block illicit flows by closing gaps between physical assets, digital platforms, and currency markets.