- Cryptos currently pose no anti-money laundering risks but this will change in the future.
- Cryptocurrency exchanges to report activities to the Thai regulator.
The regulator in charge of anti-money laundering in Thailand is getting ready to amid the existing laws to include digital currencies. The Police Major General Preecha Charoensahayanon, secretary-general of the Anti-Money Laundering Office (Amlo) while speaking to Bangkok Post affirmed that although there is no issue with cryptos, in future they “will be a tool of new money laundering.”
The secretary-general said that at the moment no complaints involving cryptocurrency-related money laundering have been filed. But he cautioned:
“We may not find any clue, but that doesn’t mean the wrongdoing does not occur.”
Preecha says that cryptocurrencies are likely to become attractive to criminals. To curb the risks, he is proposing the amendment of the policies to cover digital assets. The first Act to be amended is the Anti-Money Laundering Act. The law will see crypto exchanges report their activities to Amlo ensure that the regulator keeps an eye.
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