The Thai authorities have just announced they are working on new regulations that aim to increase the control over users of crypto exchanges in the country.
In particular, Thai financial regulators intend to control the creation of new accounts on crypto trading platforms.
According to local publication Bangkok Post, Thailand's Anti-Money Laundering Office (AMLO) has announced that from July, exchanges will be required to verify the identity of new customers in person using chips from their identity documents.
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While new users opening accounts on exchanges can currently submit their documentation online, from July they will be required to physically visit the exchanges' offices to verify their identity.
It must be noted that foreign investors may not be able to open accounts in the country, as they do not have national identity documents with a chip for verification.
The country's authorities also plan to impose the same type of verification on gold sales over 100,000 THB (around $3,200).