Thailand's crypto platform freezes over 10,000 accounts; slowdown mechanism combats money laundering and illicit activities
Thai digital asset providers have launched a "slowdown" mechanism, freezing over 10,000 suspicious crypto accounts to combat money laundering activities. This mechanism implements a 24-hour lock on transfers exceeding 50,000 Thai Baht and requires additional identity verification. While regulatory safeguards have been strengthened, the transaction experience for compliant users has been affected. Providers are also advancing cooperation with law enforcement agencies and implementing the travel rule, facing challenges due to inconsistent global enforcement.
MarketWhisper·03-11 05:48
