Thai crypto market feels the pains of global meltdown

13 Sept 13:45 Key points summarised by AI

Thai crypto trading volume and active accounts sharply declined, mirroring global trends driven by inflation, recession fears, and a steep fall in Bitcoin prices.
Increased regulatory scrutiny exposed "murky business" practices, leading to SEC fines against major exchanges for fabricating trade data and new regulations limiting crypto use and investment.
Siam Commercial Bank (SCBX) is reconsidering its significant acquisition of Bitkub Online, reflecting diminished confidence and adding to market instability.
While some foresee a future rebound, the market faces substantial challenges from global economic pressures and tightening domestic regulations, leading to a cautious outlook.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.