Thailand Strengthens Crypto Regulation to Combat Money Laundering

The Thai government is taking steps to increase regulation of the cryptocurrency market in an effort to prevent money laundering and promote transparency.

The Securities and Exchange Commission (SEC) has proposed new rules that would require crypto businesses to disclose their funding sources, including those that are not directly involved with the company.

This includes guarantors, contract-based funders, and investors who have a controlling influence over the business. However, normal financial activities such as bank loans and margin trading facilities will be exempt from these regulations.