Thailand wants to toughen AML laws on Crypto - will that affect Steemfest?

in steem •  17 days ago 

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"It will be a tool of new money laundering," - Anti-Money Laundering Office Secretary Pol Maj Gen Preecha Charoensahayanon

Crypto Bad, AML good

How's everyone?

The crypto market sees a surge as the wider market panics amid Tariff wars, Dow Jone plunge, RMB-USD all-time low. We're seeing Bitcoin again gaining market share of more than 60% as value floods to it.

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Steem has seen a downward trend for months now, probably as investor flock to move their altcoin value to Bitcoin as part of the FOMO.

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Will we see Steem hitting a new all time low? Are you still waiting for a higher discount to load up on your Steem power?

Here's today top 3 curated news by @CoinGecko

Thai AML laws will include crypto soon

Acting secretary-general of Thai AML Office (AMLO) has announced that the government will amend the regulation to prevent crypto use for illicit activities.

Calling it a new challenge of the AMLO under his leadership, he called crypto as "a tool of new money laundering".

As a start, the amendment will include requirements for digital currency exchanges to report their activities to the office.

CoinTelegraph

Federal Reserve to develop 24/7 instant payment and settlement service

The U.S. Federal Reserve Bank is announcing its plans to develop a new "round-the-clock real-time" payment and settlement service.

It is now requesting public comment on how to deliver the service.

The new plan will require an infrastructure upgrade and the Fed is eyeing a launch date in 2023 or 2024.

TheBlock

Secret U.N. Report suggests North Korea Stole $2 billion via crypto

North Korea may have stolen up to $2 billion by hacking overseas financial institutions and cryptocurrency exchanges.

According to the confidential U.N. report, the North Korean government used the stolen funds to fund nuclear and ICBM research.

According to another cybersecurity report, a North Korean hacker group was responsible for the $534 million hack on Japanese Exchange CoinCheck.

Modern Consensus

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Great new widget! I've played around with them some year ago and it looks like you guys made some new ones over the years!

That North Korean thing is just overall nasty. I've never trusted exhcnages enough to put money there. Imagine if the crypto I earned ended funding some new weapon of mass destruction.

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Tagging @vtravels, @ezzy, @xel and @onepercentbetter on the off chance you guys might like to see @coingecko on Steem!

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good to get exposure! :)

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Great Overview @coingecko, good to see that you are still around on Steem. So, many users gave up because of the deep price devaluation.
Lets hope that Alt coins soon get some of the Bitcoin gains.

I feel that steem will keep falling until all the older steemians that are currently selling are done selling steem

Nice work u gat here @coingecko. With all these regulation and all that, crypto has come to stay, and there's nothing anybody can do about it. It's just a matter of time.

@stephenkendal @boosta @samswim @irebami @ackza @honusurf @jongolson @focusnow @donhiddit @oredebby @alexvan should follow up✌

@coingecko, May be and may not be because this needs Ground Analysis if SteemFest will be impacted or not. In my opinion it's not an issue but we cannot neglect this point when it's related to the Cryptocurrency. Let's see, but thank you so much for letting us know because it's an awareness aspect.

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The FED developing 24/7 instant settlement is good news. Cryptocurrencies forcing traditional financial institutions to compete, win win for everyone.

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