Personal authentication will become mandatory for Bitcoin Exchange users in Thailand

Thailand is reportedly preparing to implement personal "dip-chip" AML checks before opening local bitcoin exchange accounts. The Thai government will request local cryptocurrency exchanges to personally verify their customers' identity using a "microchip" machine that records their ID cards. According to the Bangkok Post, the National Office for Anti-Money Laundering (AMLO) will be established in September. "Most of the digital asset exchanges are still preparing their systems to accommodate an increasing number of customers as new account applications continue to arrive," said Poramin Insom, co-founder and director of local exchange Satang Corp.. According to the report, as of April 26, cryptocurrency accounts across the country were 697,780 from 160,000 at the end of last year. The new rules are expected to delay the opening of the cryptocurrency for new currency accounts in the second half of the years of this report, and "digital asset brokers plan to discuss the issue at a forum hosted by the Thai Digital Asset Operators Association." Message. The "dip chip" requirement is currently used for identity verification at gold shops across the country. It was completely electronic. Requiring potential investors to provide personal authentication also contradicts Bitcoin's fake nature and imposes rules that require bitcoins to reveal their true identity.

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