Thailand Cracks Down on ‘Grey Money’ with Stricter Crypto and Gold Rules

Generally, Authorities in Thailand is taking a more assertive approach to combat grey money. Basically, They are implementing stricter regulations on cryptocurrency and gold trading to prevent illicit funds from moving undetected. Normally, The government aims to close loopholes that allow illegal activities to go unnoticed.
Apparently, You will see the effects of this new regulation very soon. Usually, This kind of regulations have a lot of impact on the economy.

Overview

Obviously, Thailand is intensifying its efforts to combat “grey money” by implementing stricter regulations on cryptocurrency and gold trading. Probably, The government is trying to make it harder for people to move illicit funds around. Naturally, This is a good thing for the economy.
Generally, You can expect to see a lot of changes in the way gold and crypto are traded. Sometimes, These changes can be difficult to understand.

Government Initiative

Actually, The Thai government, led by Prime Minister Anutin Charnvirakul, has ordered regulators to close loopholes in gold trades and digital-asset flows. Usually, A key part of this initiative is the creation of a central Data Bureau. Mostly, This bureau will link datasets from relevant agencies via Open API, providing authorities with a unified view of suspicious activity.
Normally, You will have to report any suspicious activity to the authorities. Probably, This will help to prevent illicit funds from moving undetected.

Gold-Trading Regulations

Apparently, For gold trading, the mandatory reporting threshold for purchases will be significantly lowered from the current 2 million baht. Generally, This move aims to reduce “smurfing,” a practice where large sums are broken down into smaller transactions to avoid detection. Sometimes, Online gold-trading platforms will also face tighter supervision.
Usually, You can expect to see new specific business taxes and stricter accounting rules. Normally, This will make it harder for people to move illicit funds around.

Cryptocurrency Regulations

Obviously, In the cryptocurrency sector, the Securities and Exchange Commission has been tasked with strictly enforcing the Travel Rule. Probably, This rule requires digital-asset providers to identify both the sender and receiver in wallet-to-wallet transfers. Generally, This will help to prevent illicit funds from moving undetected.
Normally, You will have to follow these new regulations if you want to trade crypto. Apparently, This is a good thing for the economy.

Impact and Outlook

Generally, Thailand’s comprehensive approach aims to make it harder for illicit funds to move between gold, cash, and crypto without leaving a trace. Usually, The new measures will impose heavier compliance expectations on exchanges, brokers, and other service providers. Probably, This will ensure a more transparent and secure financial system.
Apparently, You can expect to see a lot of changes in the way gold and crypto are traded. Normally, These changes will have a lot of impact on the economy.