Thailand is taking steps to tighten regulation of its cryptocurrency sector, concentrating on the financial sources of significant investors.
The Securities and Exchange Commission of Thailand, the nation’s securities regulator, has put up new regulations that would need approval from both shareholders and those who fund them.
Preventing illicit or hidden capital from entering the cryptocurrency ecosystem is the aim. Authorities want to make sure that companies are not connected to financial crime and are supported by genuine cash.
The plan is a part of a larger regional movement. As the use of cryptocurrencies increases, nations throughout Asia are tightening their restrictions.
In previous anti-money laundering initiatives, Thailand has already frozen thousands of accounts in response to questionable activity.
The new rules are open for public consultation until April 22, after which the regulator may move forward with implementation.
Source: X.com
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