GuShiio.com Thai police raided five unlicensed cryptocurrency companies, arrested 11 people and seized six computers and other evidence. Investigations showed that these companies illegally operate electronic money businesses, with an annual transaction volume of approximately 1 billion baht (approximately 29.3 million US dollars), and act as intermediaries to assist local investors in purchasing overseas investment products. ECD pointed out that its violations pose a risk of money laundering and lead to capital outflows. Recently, Thai authorities have continued to crack down on illegal encryption activities, including proposing to ban Polymarket in January, and jointly freezing US$2.5 million in encryption assets with China last month and arresting two China citizens involved in fraud and human trafficking.（Decrypt）
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