🚨 Bank of Thailand Warns of Increased Account Freezes in Fight Against Online Scams

⚠️ The Bank of Thailand has issued a warning that more bank accounts may be frozen in the coming days as part of its efforts to combat online scams and recover funds for victims. The bank has already frozen millions of accounts linked to these crimes.

📞 Online scams, including call-center fraud and investment schemes, have become a significant issue in Thailand, affecting thousands of individuals. Daranee Saeju, Assistant Governor in charge of Consumer Protection at the Bank of Thailand, emphasized that the bank is focusing on recovering stolen funds in collaboration with the Anti-Online Scam Operation Centre (AOC).

Only accounts directly linked to the crimes, also referred to as mule accounts, had their funds frozen to return the funds to their rightful owners as soon as possible,

said Saeju. She noted that more people could be affected as these measures continue to be applied.

📊 The Bank of Thailand has previously frozen over 3 million accounts linked to 177,000 mule accounts used by criminals for money laundering and cross-border transfers. The bank has also set transaction limits for demographic groups considered vulnerable to these attacks.

🚫 This operation has impacted many innocent victims, particularly foreign residents in the country, who have faced card blocks and denial of cash withdrawals. Saeju reassured that the bank is working to address these situations and will expedite the release of funds for individuals found to be uninvolved in scams.

📉 According to Deputy Prime Minister Prasert Jantararuangtong, these measures, along with power cuts and blocking internet connections, have helped reduce the issue. In March, he announced a 20% decrease in the number of online crimes reported since February.

🛑 Fiji's Ban on Virtual Asset Service Providers: A Security Measure

🚫 The National Anti-Money Laundering Council (NAML) of Fiji has reiterated its ban on Virtual Asset Service Providers (VASPs), citing the risks associated with the decentralized and anonymous nature of virtual assets. This decision aligns with international standards set by the Financial Action Task Force (FATF) and is based on a risk-based approach.

The decentralized and anonymous nature of virtual assets makes them highly susceptible to misuse by criminal networks,

the council stated in a media release. It highlighted significant risks related to money laundering, terrorist financing, and proliferation financing. While acknowledging the innovation behind virtual assets, NAML emphasized their potential for criminal misuse.

⏳ This reaffirmation of the ban comes over a year after Fiji's central bank threatened penalties for residents purchasing virtual assets. In April 2024, it was reported that the central bank prohibited the use of local debit and credit cards for buying virtual assets.

💳 The NAML pointed out that the rapid and anonymous nature of cryptocurrency transactions makes them attractive for laundering illicit funds and evading detection.

The lack of centralized oversight in virtual assets is exploited by extremist groups to fund their operations,

it argued. Additionally, the council raised concerns that virtual assets could be used to finance the acquisition of weapons of mass destruction, posing a threat to global and regional security.

🛡 Despite some jurisdictions opting for regulation, NAML stated that Fiji's current supervisory and enforcement capabilities are insufficient for effective oversight of the virtual asset sector. The council acknowledged the advantages of regulation but emphasized that without robust infrastructure and enforcement mechanisms, it could expose Fiji to significant vulnerabilities.

👥 Selina Kuruleca, the chairperson of the council and Permanent Secretary for Justice, emphasized that the priority is "the protection of Fiji’s financial system, and the safety of its people." She added that the ban promotes a secure and transparent environment that supports legitimate investment and economic growth.

🔄 The council's position is not permanent and will be reviewed as global standards evolve and Fiji strengthens its regulatory and technological frameworks. Until then, the prohibition of VASPs is considered a "necessary and prudent safeguard."

📜 The National Anti-Money Laundering Council is a legally established body coordinating Fiji’s efforts against money laundering and financial crimes. It provides advice and recommendations and is chaired by the Permanent Secretary for Justice, with members including the Governor of the Reserve Bank of Fiji and the Director of the Financial Intelligence Unit.

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💹 Bitcoin Derivatives Activity: Futures and Options Markets Overview

📉 On September 6, 2025, Bitcoin was priced at $110,894, experiencing a 1.8% decrease over the past 24 hours. The futures open interest was reported at 717,980 BTC ($79.63 billion), with CME leading the market. Following CME were Binance and Bybit, while OKX, Gate, and Kucoin trailed behind. Notably, Gate showed the strongest increase in open interest over the past 24 hours.

📊 The aggregate futures open interest has seen a modest decline since late August but remains elevated compared to earlier in the year. As for the options market, total open interest reached nearly $60 billion, primarily concentrated on Deribit. Calls made up 59.27% of open interest, indicating a stronger demand for upside exposure, although puts remained active.

Max pain, the level where option holders face the greatest aggregate loss, stood near $110,000 across September expirations.

📅 The positioning suggests that short-term price pressures could center around the max pain level as market makers aim to minimize payouts. With Bitcoin trading just above this level, the derivatives markets appear balanced between bullish call demand and defensive put hedging. However, the situation remains precarious.