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10 May 2021

Thailand to introduce in-person KYC for crypto exchanges

Thailand to introduce in-person KYC for crypto exchanges


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According to a May 3 report from Bangkok Post, the country’s Anti-Money Laundering Office (AMLO) announced that as of July, crypto exchanges must verify the identities of new customers in-person using a “dip-chip” machine.

The tightening of regulations comes as crypto assets are surging in popularity in Thailand, with the number of accounts with Thai crypto exchanges spiking from 160,000 at the end of 2020 to nearly 700,000 at the start of May.

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