Anti-Money Laundering Office

The government of Thailand will require local cryptocurrency exchanges to verify their customers’ identity in person using a “dip-chip” machine that registers identification cards.

The country’s Anti-Money Laundering Office (AMLO) will be instituting in September, according to the Bangkok Post.

“Most digital asset exchanges are still busy preparing their systems to accommodate the growing number of clients as new account applications continue to flow in,” said Poramin Insom, co-founder and director of local exchange Satang Corp. “However, this growth may be curbed if the application process becomes more complicated.”

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