In a concerted effort to tackle the escalating threat of online fraud, state authorities in Thailand have joined forces, emphasizing the need to regulate peer-to-peer (P2P) transactions involving cryptocurrencies. Led by Prasert Jantararuangthong, the Minister of Digital Economy and Society (DES), the collaborative initiative aims to curb the rampant use of P2P channels by scammers to launder money obtained through illicit activities.
Amid growing concerns over the proliferation of online scams in Thailand, recent estimates suggest that the damage inflicted by fraudulent schemes amounts to a staggering 100 million baht per day. Shockingly, a significant portion of fraudsters, approximately 80%, exploit the unregulated nature of P2P cryptocurrency transactions to evade detection and traceability, posing a formidable challenge to law enforcement agencies.
Thailand: Regulatory Focus Sharpens On P2P Crypto Transactions
Recognizing the urgency of the situation, regulatory autho
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