- 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."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.