Thailand has passed new amendments to national laws to combat online crimes involving digital assets. The cabinet approved amendments to emergency decrees on digital asset businesses and cybercrime prevention. The amendments aim to strengthen measures against digital asset mule accounts, restrict foreign cryptocurrency peer-to-peer platforms, and introduce penalties of up to $8,700 and three years’ imprisonment. The laws will be enforced soon after being published in the Royal Thai Government Gazette. The regulations require crypto asset service providers to collect and report information on transactions linked to online scams. Thai authorities can block foreign providers from serving local users to prevent money laundering. The laws also hold non-crypto businesses accountable for damages caused by cybercrimes. The restrictions target foreign crypto peer-to-peer service providers, aiming to limit transactions to local providers and reduce risks from foreign providers. Thai regulators are exploring cryptocurrency adoption by approving payment trials in cities like Phuket and considering crypto exchange-traded funds approvals. The Thai SEC and Binance were approached for comments but did not respond. The new laws aim to strengthen controls against money laundering and cybercrimes in the country.