Thai Crypto Exchange Licensing Cost Calculator
License Cost Requirements
As of 2025, Thailand requires:
- 50 million THB (approx. $1.4M USD) share capital
- 2.5 million THB (approx. $70K USD) application fee
Total minimum investment: 52.5 million THB ($2.1M USD)
Note: This does not include additional costs for physical office setup, staff salaries, or compliance systems. Most companies spend an extra $500,000-$1,000,000 on legal, tech, and operational setup.
Running a crypto exchange in Thailand isn’t just about setting up a website and accepting Bitcoin. If you want to operate legally, you’re facing one of the strictest, most detailed licensing systems in Southeast Asia - and it’s not getting easier. As of 2025, Thailand requires every crypto exchange serving Thai users to be fully licensed by the Ministry of Finance and supervised by the Securities and Exchange Commission (SEC). This isn’t a suggestion. It’s the law. And the cost, complexity, and time involved make it one of the toughest entry points in the region.
Why Thailand’s Rules Are So Strict
Thailand didn’t just stumble into regulating crypto. In 2018, it passed the Emergency Decree on Digital Asset Businesses, which laid the foundation. But in April 2025, the rules got a major upgrade with the Royal Decree on the Operation of Digital Asset Businesses (No. 2). This update closed a big loophole: foreign exchanges that were targeting Thai users without a local license. Now, if you’re based in the U.S., Singapore, or anywhere else, and Thai people are trading on your platform, you must get licensed in Thailand. No exceptions.This isn’t about shutting down crypto. It’s about bringing it into the same legal framework as banks and stock brokers. The goal? Protect everyday users from scams, money laundering, and platform failures. Thailand has over 8.4 million crypto users - that’s 11.6% of the population - and the government knows this market isn’t going away. So instead of banning it, they’re building walls around it. And those walls are high.
The Three Main Types of Licenses
You can’t just apply for one “crypto license.” Thailand breaks digital asset businesses into three main categories, each with its own rules:- Digital Asset Exchange - This is what most people think of: platforms where users trade crypto for other crypto or fiat (like THB). Examples include Bitkub and Zipmex Thailand.
- Digital Asset Broker - These firms act as intermediaries, helping clients buy or sell crypto on exchanges without running their own trading platform.
- Digital Asset Dealer - These are market makers or liquidity providers who buy and sell crypto directly from their own inventory.
There are also licenses for ICO portals, custodial wallets, fund managers, and advisors - but these are rare. As of 2025, only two companies hold custodial wallet licenses, and just nine hold ICO portal licenses. Most operators stick to the big three.
The Financial Hurdles: It’s Not Cheap
Let’s talk numbers. The upfront cost to even start the process is massive.- You need to deposit 50 million THB (about $1.4 million USD) as share capital. This money must be locked in a Thai bank account - you can’t use it for operations. It’s a safety buffer in case things go wrong.
- On top of that, there’s a non-refundable application fee of 2.5 million THB (roughly $70,000 USD).
- That’s a minimum of 52.5 million THB ($2.1 million USD) just to submit your application.
And that’s just the start. You’ll also need:
- A physical office in Thailand with local staff - remote teams don’t count.
- Thai-speaking compliance officers and AML (anti-money laundering) specialists.
- Local accounting and auditing services that follow Thai financial reporting standards.
- Advanced cybersecurity systems certified to meet Thai SEC standards.
- KYC and due diligence software that integrates with Thai government databases.
Most companies spend an extra $500,000 to $1 million on legal, tech, and operational setup before they even apply. And you’re not done yet.
The 150-Day Application Process
Once you’ve got the money, the team, and the tech, you submit your application. The Ministry of Finance then has 150 days to review it. That’s five months - and they’re not rushing.During this time, they’ll dig into:
- Your business plan - including cash flow projections for the next five years.
- Team backgrounds - every key person must pass a fit-and-proper test.
- Your IT infrastructure - servers must be in Thailand or have real-time data replication there.
- Your AML-CFT policies - these must mirror those used by Thai banks.
- Your customer dispute resolution process - how you handle complaints and frozen funds.
Many applicants get rejected on minor paperwork errors. One company lost six months because they used the wrong form for their cybersecurity audit. There’s no room for guesswork.
What Happens After You Get Licensed?
Getting the license isn’t the finish line - it’s the starting line. Licensed exchanges must:- Submit monthly reports to the SEC on trading volume, user growth, and suspicious activity.
- Undergo annual on-site audits by SEC-appointed firms.
- Keep all user data stored in Thailand for at least five years.
- Update their systems every time the SEC releases new compliance guidelines.
There’s no “set it and forget it.” The SEC has launched regulatory sandboxes to test new features - like a 2025 pilot letting tourists convert crypto to THB at airports. But if you’re not ready to adapt, you’ll fall behind.
Who’s Already Licensed? (As of 2025)
There are currently 12 licensed crypto exchanges in Thailand. The biggest names are:- Bitkub
- Zipmex Thailand
- Krungsri Axiata (a joint venture with a Thai bank)
- AssetBit
- Bitazza Thailand
Plus, there are 13 licensed brokers and 3 dealers. Most of these are Thai-owned or backed by Thai financial institutions. Foreign exchanges like Binance and Coinbase don’t have Thai licenses - and they’re not allowed to market to Thai users. If you’re a Thai citizen and you’re using one of these foreign platforms, you’re technically trading on an unlicensed service. The SEC warns users: always check the official list before depositing money.
Why This Matters for Users
For everyday people in Thailand, this system means safety. If your exchange gets hacked or shuts down, licensed operators are required to have insurance and capital reserves to cover losses. Unlicensed platforms? No such protection. The SEC has a public list of approved exchanges - and users are taught to check it before signing up.Thai users report higher trust in licensed platforms. KYC (know your customer) is strict - you need a Thai ID card or passport, proof of address, and sometimes a video call with a compliance officer. It’s annoying, but it works. Fraud rates on licensed exchanges are 90% lower than on unregulated ones.
The Big Trade-Off: Safety vs. Innovation
Thailand’s system is praised for its clarity. Unlike countries that ban crypto or leave it in legal gray zones, Thailand gives businesses a clear path - if they can afford it. But that path is narrow.Local startups with $100,000 in funding? They’re out. Only well-funded firms - often backed by Thai conglomerates or international VCs - can play. That’s why only two custodial wallet providers exist. The market doesn’t need more - but the rules make it impossible for smaller players to enter.
Some experts say Thailand’s approach is too heavy-handed. Others argue it’s the only way to protect millions of retail investors. The result? Thailand has become a regional hub for institutional crypto business, competing with Singapore and Hong Kong. But it’s not a playground for indie devs or crypto startups. It’s a regulated financial market - and that’s exactly what the government intended.
What’s Next? DeFi, NFTs, and the Future
The current rules don’t cover decentralized finance (DeFi) or NFT marketplaces. That’s the next frontier. The SEC has signaled it’s working on new guidelines for these areas, but they’re still in early stages. If you’re building a DeFi protocol and want Thai users, you’ll need to wait - or risk breaking the law.One thing’s certain: Thailand won’t backtrack. The 2025 amendments showed they’re serious about closing loopholes. The next update will likely tighten rules on staking, yield farming, and token listings. If you’re planning to enter this market, don’t wait for the rules to soften. They’re not going to.
Can foreign companies apply for a Thai crypto exchange license?
Yes, but they must set up a legal entity in Thailand - a local subsidiary with a Thai office, Thai employees, and Thai bank accounts. You can’t operate from overseas. The April 2025 update made it clear: if you serve Thai users, you need a Thai license - no matter where you’re based.
How long does the licensing process take?
The official review period is 150 days after submission. But most companies spend 6 to 12 months preparing before they even apply - building infrastructure, hiring staff, and finalizing documents. Delays are common due to incomplete paperwork or missing compliance certifications.
What happens if I operate without a license?
You risk criminal charges, fines up to 10 million THB ($280,000 USD), and imprisonment. The SEC actively monitors websites and advertising targeting Thai users. If you’re found operating illegally, your platform will be blocked in Thailand, and your assets may be seized.
Are there any alternatives to getting licensed in Thailand?
No. If you want to serve Thai residents, you must be licensed. Some try to use offshore wallets or peer-to-peer platforms, but these aren’t legal alternatives - they’re workarounds that expose users to risk and violate Thai law. The SEC considers them unlicensed operations.
How do I check if a crypto exchange is licensed in Thailand?
Go to the official Securities and Exchange Commission (SEC) website and look for the list of licensed digital asset businesses. All licensed exchanges display their license number on their website. If you can’t find it, assume it’s not approved.
Comments
This is insane. $2.1 million just to apply? And you can’t even use your own money for operations? Thailand just turned crypto into a luxury sport for billionaires. Meanwhile, in the US, you can launch a DeFi protocol from your garage and get a tweet from Vitalik. This isn’t regulation-it’s economic apartheid.
Thailand’s approach is methodical and necessary. Retail investors need protection. The numbers don’t lie-fraud rates drop 90% on licensed platforms. If you want to operate in a market with 8 million users, you pay the price. It’s not about stifling innovation. It’s about not letting it burn people down.
OMG this is wild 😳 I just checked Bitkub’s site and they have like 5 million users and they’re LEGAL?? I thought all crypto was shady. But wait-so if I’m a Thai person using Binance… am I breaking the law?? 😳 I feel like I’m in a crime drama.
There’s something poetic about this. The same country that gave the world Buddhist meditation now demands that crypto firms comply with 150-day regulatory audits. It’s not about control-it’s about order. The West screams ‘decentralize everything,’ but when real people lose money, the screams turn to silence. Thailand didn’t ban chaos. It built a temple around it.
I’ve seen too many people get burned by unregulated platforms. The KYC is annoying, yes. But knowing your money is backed by real reserves? That’s worth the paperwork. I wish more countries took this seriously. Not everyone is a tech bro. Some of us just want to buy Bitcoin without fearing a rug pull.
The regulatory architecture here is a textbook example of a hybrid financial infrastructure-tokenized asset custody layered atop centralized AML-CFT compliance frameworks, with localized data sovereignty mandates and institutional-grade capital buffers. The 50M THB equity requirement functions as a non-recourse liquidity sink, effectively filtering out retail-capable entrants while institutionalizing the market. This is not overregulation. It’s structural maturity.
India should take notes. We let everyone launch a crypto app. Result? Scams everywhere. Thailand’s way is hard-but it works.
I mean, sure, it’s ‘safe’… but what about the innovation that gets crushed under all this bureaucracy? You need a Thai office? A Thai-speaking compliance officer? A server in-country? Who even has that kind of money? This isn’t protecting users-it’s protecting the big players. And honestly? It’s just making crypto feel like a bank again. And we all know how exciting banks are.