Thailand: Securities and Exchange Commission adopted order establishing criteria for determining major shareholders of securities companies and digital asset business operators

On 26 February 2026, the Securities and Exchange Commission adopted the order establishing criteria for determining major shareholders of digital asset business operators. It applies to persons and entities that directly or indirectly hold shares in, or exercise control over, such business operators. It clarifies how direct and indirect shareholding and control are assessed, including rules for identifying first-tier and ultimate shareholders, thresholds of 10% or more voting rights, and situations where persons control board appointments or voting at shareholder meetings. The order enters into force on 4 March 2026.