There is hope
I have been living and working in Thailand as a teacher for five years. I am in my third year at the same government school. I have a TEFL certificate, but do not have a degree.
In the first year at the school, and after I had worked with them for a few months, they asked me about having a degree. To cut a long story short they became aware I didn't have a degree. I thought I was finished, but they wanted me to stay at the school. The director supported me and spoke to the Ministry of Education. I got a work permit, and have had it extended twice.
To be able to work for a third year the school paid for me to do the Thai Culture Course, which has entitled me to a two-year teaching licence. I am proof that if a government school is happy with you they can bypass hurdles to employ you. You have to be lucky, and liked! Today I was made aware of the new law, i.e. must have a degree in teaching. We all know that will create a shortage of farang teachers in Thailand.
As for me, my school is keeping their finger on the pulse as to how it will affect my situation. There's hope for us.
Trevor