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BY CNA team - November 8, 2018

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Thai DPM calls for more control over cryptos

Thai DPM says measures needed to keep up with criminals and terrorists using crypto channels to fund activities
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A Thai deputy prime minister, Wissanu Krea-ngam, wants more control over cryptocurrencies to curb their use in funding terrorism and criminal activities.

The Bangkok Post says in a Nov 8 report that Wissanu is calling for more efforts, both domestically and internationally, to keep up with changing times and tactics in the fight against terrorism.

He told participants at a counter-terrorism financing summit in Bangkok that anti-money laundering and terrorism experts should not be complacent and must update their knowledge in order to not lag behind criminals.

Wissanu pointed to anonymity as a major obstacle in combating online crime because of the difficulties in establishing identities.

Although Thailand has taken measures – an executive decree on digital asset businesses and an act on counter-terrorism financing – he says the laws must keep up with technological changes.

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