Gate News reports that on March 11, Thai digital asset operators froze over 10,000 suspicious cryptocurrency accounts as part of the newly implemented “speed bump” measures to combat money laundering activities through “money mule accounts.” The chairman of the Thai Digital Asset Operators Trade Association stated that criminal networks often disperse illegal funds into multiple bank accounts before consolidating and transferring them to crypto platforms for quick conversion into digital assets and transfer abroad. The new measures require a 24-hour transaction lock for transfers of 50,000 Thai Baht or more. During this period, users must complete additional KYC verification (such as video verification) before the funds are released.
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