Thailand Cracks Down on Crypto Money Laundering with ’Speed Bump’ Rule
Thailand's financial regulators have frozen over 10,000 suspicious cryptocurrency accounts in a sweeping anti-money laundering operation. The crackdown follows the implementation of a new 'Speed Bump' policy designed to disrupt illicit fund flows through delayed transaction processing.
Under the policy, crypto transfers exceeding 50,000 baht (~$1,360) face a mandatory 24-hour hold period. During this window, users must complete enhanced identity verification, including video confirmation, before transactions can proceed. The measure specifically targets criminal networks that exploit crypto's pseudonymous nature for rapid cross-border money movements.
The Thai Digital Asset Operators Trade Association (TDO) reports that mule accounts—typically used to layer illicit funds before conversion to digital assets—have become systemic risks. Authorities are now integrating exchange data with the Bank of Thailand's monitoring systems, creating unprecedented transparency in the country's crypto ecosystem.
