RATE Group | Thailand Gov’t Will Amend AML Laws to Regulate Cryptocurrency
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Thailand Gov’t Will Amend AML Laws to Regulate Cryptocurrency

11 Aug Thailand Gov’t Will Amend AML Laws to Regulate Cryptocurrency

Posted at 14:32h in Cryptocurrency News by

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A Thai regulator announced that the regulator will amend regulation to prevent crypto use for illicit activities, English-language local news outlet BangkokPost reports on Aug. 5.

AMLO to focus on cryptocurrencies

Per the report, Acting Secretary-General of the Thai Anti-Money Laundering Office (AMLO), Pol Maj Gen Preecha Charoensahayanon, stated that cryptocurrencies will be used for money laundering. 

For this reason, he reportedly announced that AMLO will also focus on amending existing anti-money laundering regulations to prevent the use of digital currencies for illegal activities in the near future.

Data sharing requirements for exchanges

Charoensahayanon intends to start with changing the Anti-Money Laundering Act to include requirements for digital currency exchanges to report their activities to the office. The report suggests that — while the regulator does not currently receive complaints — it must closely observe the space, and cites the AMLO official commenting:

“We…

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