Cryptonists, brokers and exchangers will be able to become the participating companies in the sandboxes, Thai officials assured. All participants are required to have a license and comply with the requirements of customer identification (KYC) and counteract money laundering (aml).
The initiative of the authorities provides that foreign tourists will be able to exchange cryptocurrencies for Thai BAT from licensed suppliers of services and providers of electronic money services. Cryptocurrencies cannot be used as a payment agent directly – only after converting to fiat, officials said.
The system will work under the supervision of SEC, Central Bank, control of laundering of funds and other bodies. Initially, the project was a pilot for Phuket, but now it covers the whole country and is focused exclusively on tourists.
Previously, the SEC Thailanda announced a revision of the listing rules for digital assets on licensed crypto -rhms. The regulator said that he accepts comments and proposals from interested parties until July 21.
Source: Bits
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