According to Thailand’s new cryptocurrency rules, anybody wishing to open an account must physically register and cannot do so electronically.
The revised rules will go into effect in September 2021. The Anti-Money Laundering Office (AMLO) implemented them to combat money laundering in the country.
hose wishing to open a new crypto account would be expected to present key documents in person, as well as check their Thai identity card in a scanner known as a “dip-chip.”
Authorities anticipate that the current regulations could hinder the launch of cryptocurrency accounts, as opening trading accounts has historically been achieved digitally. Some contend that requiring physical registration contradicts the idea of crypto as a decentralized and digital framework.
Thailand has seen a recent surge in crypto account holders this year. The number of accounts in Thailand went from 160,000…