Thailand readying to introduce new crypto rules to tackle money laundering
|- The country is exploring integrating current anti-money laundering rules into crypto-related laws.
- They establish that criminals are putting their monies into crypto to make funds less traceable for authorities.
Thailand is keen to increase its oversight of cryptocurrencies and digital assets; this would be done via the integration of anti-money-laundering rules into the Thai crypto-related laws.
In terms of the legislation that has been proposed, it does seek to provide strength to the sector’s security and prevent potential fraud. In addition to offering a set of guidelines on the crypto dealings.
The acting secretary-general of the Anti-Money Laundering Office (Amlo), Pol Maj Gen Preecha Charoensahayanon, was speaking on the proposal and said:
“Criminals will increasingly transform their money into digital currencies such as bitcoins as the virtual format will make it harder for authorities to trace their financial transactions."
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