⚖️ Thailand tightens regulations on P2P transactions and self-custody wallets
On September 2, the Thailand Securities and Exchange Commission (SEC) announced a new risk management framework called “Travel Rule for Digital Assets (TRDA)”. Accordingly, digital asset business operators in Thailand will have to tighten their control procedures for P2P transactions and self-hosted wallets.
Under the new guidance, licensed crypto platforms must identify customers and transaction counterparties, including verifying ownership of self-custody wallets. Exchanges are required to collect and submit information about the sender and the beneficiary of each transaction, while storing this data for at least 5 years to support inspections when needed.
#CryptoRegulation #CryptoNews
🔗 Source: AMBCrypto
⚠️ Information is for reference only and not investment advice. Please do your own research before deciding (DYOR).
On September 2, the Thailand Securities and Exchange Commission (SEC) announced a new risk management framework called “Travel Rule for Digital Assets (TRDA)”. Accordingly, digital asset business operators in Thailand will have to tighten their control procedures for P2P transactions and self-hosted wallets.
Under the new guidance, licensed crypto platforms must identify customers and transaction counterparties, including verifying ownership of self-custody wallets. Exchanges are required to collect and submit information about the sender and the beneficiary of each transaction, while storing this data for at least 5 years to support inspections when needed.
#CryptoRegulation #CryptoNews
🔗 Source: AMBCrypto
⚠️ Information is for reference only and not investment advice. Please do your own research before deciding (DYOR).