Thailand tightens rules on p2p crypto trading by overseas operators

Under the new regulations, Thailand will improve its efforts to prevent the exchange of foreign cryptography of peer to target local users.

Thailand Increases his efforts to combat cybercrime with new modifications to his laws, focusing on the reduction more and more on mule and foreigners accounts peers Cryptographic platforms. In a press release On April 8, the Thailand’s securities and trade committee said that with new regulations, the Thai authorities could block foreign crypto exchanges that target local investors.

“The SEC will collaborate with the Ministry of Digital Economy and the Society and relevant agencies, including TDO operators and digital assets, in order to implement the above -mentioned laws in order to improve the effectiveness in the prevention of the use of digital assets as a means of money laundering and reducing public damage to online crimes.”

Pornanong budsaratragoon, secretary general of the dry

A key element of changes focuses on P2P platforms, the government is now able to block websites and applications offering services to Thai users. The laws also introduce more strict sanctions for people involved in Mule’s accounts. People recognized as guilty of opening or allowing others use their digital asset accounts for cybercrime can incur up to three years in prison or a fine of up to 300,000 baht (about $ 8,660), or both.

As part of the last repression, the Thai authorities are pressure for cryptographic companies to follow the same procedures as banks by exchanging information, screening and the suspension of transactions or accounts related to cybercrimes.