Thailand Enforces New Regulations on Foreign P2P Crypto Services
- Foreign P2P crypto exchanges are banned from operating in Thailand without a local license.
- New laws impose fines up to 300,000 baht ($8,700) for “mule accounts” used in fraudulent activities.
- Violators of the new regulations may face imprisonment for up to three years.
- Commercial banks, telecoms, and social networks share responsibility with crypto firms to prevent cybercrime.
- The legislation aims to combat fraud, money laundering, and enhance cybersecurity measures.
The Thai government has enacted laws banning foreign P2P crypto services without local licenses and imposing fines up to $8,700 for mule accounts. This move targets fraud and strengthens cybersecurity. Commercial banks and other sectors are also tasked with preventing cybercrimes alongside crypto companies.
Source (2.6)https://hodl.press/thailand-bans-foreign-p2p-crypto-services-fines-up-to-8700/?rand=24434
