Thailand: Order establishing criteria for determining major shareholders of securities companies and digital asset business operators enters into force

On 4 March 2026, the order defining criteria for identifying major shareholders of digital asset business operators comes into effect. It applies to entities that directly or indirectly hold shares in, or exercise control over, these operators. The order clarifies how direct and indirect shareholding and control are assessed, including the identification of first-tier and ultimate shareholders, the 10% or more voting rights threshold, and circumstances in which individuals influence board appointments or voting at shareholder meetings.