Earlier this year Thailand introduced a regulatory framework for cryptocurrencies. Krea-ngam said that new measures must be introduced both domestically and internationally.
Krea-ngam was recently a part of the Counter-Terrorism Financing Summit. Meantime, he said that experts should not be satisfied with current security protocols so as not to shuffle behind criminals that would use digital currencies for funding terrorism or money laundering. Krea-ngam also added that the anonymous nature of some poses the security challenges.
The Thai officials can enforce more regulatory framework domestically and every country will enforce their own regulations domestically and expect more countries to come up with regulations in the coming years but for the global market to enforce the same regulations is highly unlikely, all of the exchanges does follow strict regulations from their country of origin apart from decentralized exchanges and i do see some restrictions coming up for these exchanges in the future but they cannot shut those down completely, i can very well tell that fiat currency is used to fund terrorism and money laundering than crypto currencies as you really cannot trace where the currencies are going in the first place but that is not the case with crypto currencies as every transactions are recorded. Krea-ngam was recently a part of the Counter-Terrorism Financing Summit. Meantime, he said that experts should not be satisfied with current security protocols so as not to shuffle behind criminals that would use digital currencies for funding terrorism or money laundering. Krea-ngam also added that the anonymous nature of some poses the security challenges.
