According to news.bitcoin, the Securities and Exchange Commission of Thailand (SEC), the main encryption regulator in Thailand, announced on Thursday, September 6 that another cryptocurrency company has been approved to operate legally in the country.
Southeast Asia Digital Exchange Co., Ltd. (Seadex) has become the sixth legal encryption exchange in Thailand. The US Securities and Exchange Commission approved the exchange after reviewing Seadex’s information and determining that the business existed before the May 14 regulations came into effect.
The Thai government has approved encryption exchanges, hoping that its own wallet regulator will allow encryption companies that conduct business before encryption enforcement to continue to operate when reviewing their applications, provided they apply for approval by August 14.
Last month, the regulator approved seven encryption companies, five of which were encryption exchange companies.
The Thai government approves the encryption exchange and hopes to have its own wallet. The Thai government’s Anti-Money Laundering Office (Amlo) is considering maintaining its own cryptocurrency wallet.
Mr. Witthaya Neetitham, secretary of Amlo, said at a seminar on cryptocurrency crimes and legal systems that officials are discussing how to acquire and protect Amlo’s wallet “holding or confiscation of digital currency from illegal sources.”
The Thai government approved the encryption exchange and wanted its own wallet. The publication explained that “there is no law allowing the agency to freeze or seize digital currency, nor to retain digital currency… Therefore, the Thai authorities can imprison or extradite cybercriminals and confiscate Actual assets – but they can’t reach their digital assets.”
Earlier this year, the Royal Thai Police Technical Crimes Department and its Dutch counterparts arrested a Moldovan suspected of running a child pornography site. Police captain Ekkanit Natethong revealed that we found Bitcoin in his e-wallet but had to leave. Because we don’t have any rules [catch encryption] currency.
The Thai government has approved encryption exchange and hopes that seven types of cryptocurrencies in its wallet have been legalized in Thailand. Neetitham claims that “Amlo does have measures to combat crimes involving digital currencies licensed by the Securities and Exchange Commission.”
Despite this, he said, “It is still difficult to handle cryptocurrency operators outside the system,” the news media relayed and quoted him as saying that when the deceived victim transferred the money to the criminals, we were unable to identify the cryptocurrency operator.
Chartpong Chirabandhu, deputy director general of the Office of the Special Prosecutor’s Office of the Attorney General, commented that “a big problem with digital assets and other such evidence is that it is difficult to identify the identity of those transactions,” he described. “When we attended, we provided [court] Evidence often fails to convince the judge.”
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