Thailand to Curb Money Laundering via Cryptocurrency

Thailand's сryptocurrency exchanges will report their transactions to the country's anti-money laundering agency to curb money laundering
31 January 2018   218

The government of Thailand will step up monitoring of cryptocurrencies by requiring сryptocurrency exchanges to report their transactions to the country's anti-money laundering agency (AMLO). This is reported by The Nation.

Pol Maj-General Romsit Viriyasan, the acting chief of the AMLO, said the agency would amend its law to impose the requirement in order to suppress money-laundering activities using bitcoin and other cryptocurrencies as media of exchange.

Romsit said the current AMLO law empowered the agency to investigate cases in which illegally obtained money, such as the proceeds of cheating and investment scams, was converted into other assets, while the planned amendment would relate to bitcoin and all other digital currencies.

If there is solid evidence, the agency will also be empowered to freeze all assets arising from illegal activity, pending further investment and prosecution. The AMLO will require people providing digital exchange services to file reports about transactions, with a special focus on people involved in suspicious activities that could be covering up money laundering.

Bitcoin and Ripple, are currently the two most popular units used by criminals to launder money in Thailand. Romsit added that investing in digital currencies carries a high risk because Thailand's law does not recognise them as legal tender, so the public should exercise caution to avoid misleading and cheating tactics.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   210

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.