According to the secretary of Thailand’s Anti-Money Laundering Office (AMLO), Witthaya Neetitham, the government agency is planning on setting up its own cryptocurrency wallet for the purposes of tackling crime relating to Bitcoin and other cryptocurrencies.
Neetitham spoke at a seminar held in Bangkok focusing on the crypto-related crime. He said the wallet would allow the government agency to seize proceeds of crime held as digital assets.
“We have discussed launching our own ‘AMLO Wallet’ to hold or confiscate digital currency from illegal sources,” – said Neetitham.
Currently, Thai law only addresses the confiscation of physical assets. Cybercriminals arrested in the country either jailed or extradited and their digital assets left intact.