Thailand's Cabinet has approved important amendments to strengthen regulations against digital asset-related crimes.
These changes, primarily targeting mule accounts and foreign crypto platforms used for money laundering, will come into effect once published in the Government Gazette.
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Announced on April 8, the updates aim to amend the Digital Asset Business Law (2018) and the Cybercrime Law (2023).
The new laws empower Thai regulators to swiftly block suspicious websites and apps, especially those run by foreign cryptocurrency platforms that target Thai investors.
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Individuals who use or allow others to use their crypto accounts to commit cybercrime will face stiff penalties, up to three years in prison or fines of up to 300,000 baht (about $8,700).