Thailand Gov’t Will Amend AML Laws to Regulate Cryptocurrency

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August 5 2019

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.

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.