Source: https://cointelegraph.com/news/thai-sec-foreign-crypto-p2p-cybersecurity-laws?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Thailand is stepping up its efforts to combat online crimes involving digital assets by passing new amendments to national laws. The country's cabinet approved these amendments on April 8, focusing on enhancing regulations related to digital asset businesses and cybercrime prevention. The Thai Securities and Exchange Commission (SEC) announced these regulatory changes.

One of the key aspects of the new laws is the crackdown on digital asset mule accounts in banks. Thai regulators are also aiming to restrict foreign cryptocurrency peer-to-peer (P2P) platforms. To deter illicit activities, the amendments introduce strict financial penalties of up to $8,700 and imprisonment for up to three years. These measures are designed to strengthen the regulatory framework surrounding digital assets in Thailand.

The regulations will be enforced soon and