Thailand Mandates Physical ID Checks of Crypto Investors
Thailand Mandates Physical ID Checks of Crypto Investors
The AML law will come into effect from July.
Arnab Shome
2021-05-03T11:00:37+00:00
2021-05-03T11:50:20+00:00 Photo: Thailand
The Thailand government is making the regulations around crypto exchanges more strict as it mandated the verification of customer identities using a ‘dip-chip’ machine, which requires the physical presence of the clients. These machines are used for ID verifications across gold shops in the country.
Bangkok Post reported on Monday that the new rules around the anti-money laundering practices of the crypto exchanges will come into effect in July. The rules might slow down the onboarding process on Thai crypto exchanges from the second half of this year.