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Komkrit Kietduriyakul

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Komkrit Kietduriyakul joined Baker McKenzie in 1994. He was working with the Firm’s London office when he became a partner in 1999. Mr. Kietduriyakul is a member of the Banking & Finance, Capital Markets & Securitization, Restructuring & Insolvency and Projects Practice Groups in Bangkok. He is a recognized leader in derivatives, structured finance, and capital markets, as well as fintech, project finance and bankruptcy.

Anti-Money Laundering and Combating the Financing of Terrorism measures play an important role for financial institutions and specified non-financial businesses (collectively referred to as Reporting Entities), to combat money laundering and the financing of terrorism. The relevant AML/CFT laws, regulations and guidelines have been continuously improved in order to comply with international standards. To keep up with the dynamic and evolving regulatory developments, Baker McKenzie has issued this publication to provide an overview of Thailand’s AML/CFT regulations and guidelines.

In 2021-2022, the digital assets industry in Thailand has been growing significantly as more big players in the traditional financial industry and start-up players enter into the digital assets market. It seems that the frenzy of price volatility and the regulatory complexities could not slow down the rise of crypto activities. To keep up with these dynamic and evolving regulatory developments in 2022, we have revised this publication to provide an update of the regulations pertaining to digital assets in Thailand, which cover the regulations regarding custodial wallet providers, digital asset payments and NFTs, including the SEC’s proposed rules on ready-to-use utility tokens, advertisements and IT standards.