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Crypto mule account battle heats up
Bangkok Post
|April 15, 2025
The Securities and Exchange Commission (SEC) is stepping up efforts to crack down on digital asset mule accounts by tightening control on the use of foreign platforms for money laundering to protect the public.
Pornanong Budsaratragoon, secretary-general of the SEC, said the regulator has worked closely with the Thai Digital Asset Operators Trade Association and digital asset business operators to strengthen efforts against digital asset mule accounts since 2024.
On March 12, they jointly introduced an industry-wide standard to prevent and manage mule accounts equivalent to the standards already in place in the banking sector.
The cabinet approved amendments of the 2018 Emergency Decree on Digital Asset Business and the 2023 Emergency Decree on Measures for the Prevention and Suppression of Technology Crimes.
The revision is aimed at enhancing the effectiveness of combating cybercrime and mule accounts to ensure safer financial transactions for the public, and strengthen efforts to tackle online fraud. Both laws take effect once published in the Royal Gazette.
This story is from the April 15, 2025 edition of Bangkok Post.
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