Thai Crypto Platforms Freeze More Than 10,000 Suspected Mule Accounts Under New AML Rules

The Thai Digital Asset Operators Trade Association, or TDO, represents licensed exchanges and brokers. Since February 2025, it has worked with Thailand’s Securities and Exchange Commission, the Bank of Thailand, the Anti-Money Laundering Office and police to establish mechanisms for monitoring and reporting mule accounts and sharing data. Digital assets can move rapidly between platforms, making them potential conduits for fraud proceeds and money laundering when identity checks are inadequate. Stronger AML and KYC controls are therefore critical to market confidence.

Att Thongyai Asavanund, CEO of KuCoin Thailand and chairman of TDO, said on March 10, 2026, that operators had frozen more than 10,000 suspected mule accounts under a new “Speed Bump” measure that delays high-risk transfers and requires additional KYC checks. Another 47,692 accounts were frozen in 2025. Regulators have ordered firms to implement the Travel Rule, while the value of assets frozen in the latest round has not been disclosed.