Thailand to bring crypto under AML rules

posted 10 months ago
Thailand’s anti-money laundering regulator is planning to amend the country’s laws to include cryptocurrency, suspecting crypto “will be a tool of new money laundering.” The country’s laws are expected to be altered to bring cryptos into the AML regime, starting with the AML Act. The regulator plans to add a rule requiring cryptocurrency exchange platforms to report activities to Amlo.

Thailand is said to be a member nation of the Financial Action Task Force (FATF) – an international money-laundering watchdog – which recently issued recommendations that cryptocurrency platforms monitor and report suspicious transactions. A controversial requirement would be included in the new laws that “virtual asset service providers” (VASPs), which includes crypto exchanges, pass information about their customers to one another when transferring funds between firms.
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