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Despite a significant increase in global cryptocurrency crimes this year, Thailand’s digital asset exchange operators maintained that crypto and digital assets have not been subject to scams and that illicit activities accounted for a minimal amount of total transactions.

Binance TH by Gulf Binance, a local joint venture of Binance — the world’s largest crypto exchange — said crypto and digital assets are simply tools that can be misused by a small number of criminals who constantly adapt their methods to exploit new technologies.

According to Chainalysis’s 2025 Crypto Crime Report, illicit activity accounted for just 0.14% of total on-chain transaction volume in 2024, a significant drop from 0.61% in 2023, said the company’s chief executive Nirun Fuwattananukul.

“It’s critical to understand the big picture that the vast majority of cryptocurrency transactions are legitimate. The belief that the cross-border nature of blockchain technology enables criminals to engage in illicit activities reflects a fundamental misunderstanding,” he told the Bangkok Post.

In fact, blockchain’s inherent transparency provides unparalleled visibility of the movement of digital assets. Furthermore, both Thai and international regulators have significantly enhanced their collaborative frameworks to combat crypto-related crimes.

“The concerted efforts across the industry — from exchanges like Binance TH by Gulf Binance to global law enforcement agencies, regulators and users — have collectively driven these positive developments,” Mr Nirun noted.

“By working closely with law enforcement agencies and regulators, we can develop robust safeguards to protect investors while fostering innovation. This ongoing collaboration has delivered concrete outcomes and underscores that real security knows no borders.”

THEFT ON THE UP

According to Chainalysis’s 2025 crypto crime mid-year updates, the value of stolen crypto rose 17% year to date versus the value of stolen crypto recorded in 2022, previously the worst year on record.

“With over US$2.17 billion stolen from cryptocurrency services so far in 2025, this year is more devastating than the whole of 2024. If current trends continue, stolen funds from services could eclipse $4 billion by year-end,” the US-based blockchain analysis firm said in its latest report.

Personal wallet compromises now represent a growing share of total ecosystem theft, with attackers increasingly targeting individual users, making up 23.3% of all stolen fund activity year to date in 2025.

APAC ranks second after North America in terms of total Bitcoin (BTC) stolen and third in terms of stolen Ethereum (ETH), whereas Central and Southern Asia and Oceania (CSAO) ranks second in terms of the value of stolen altcoin and stablecoin.

The US, Germany, Russia, Canada, Japan, Indonesia and South Korea top the list of highest victim counts per country, whereas Eastern Europe, the Middle East and North Africa and CSAO saw the most rapid year-on-year growth in victim totals in the first six months of 2025.

COLLABORATIVE EFFORT

Mr Nirun said Binance TH’s close collaboration with the Thai police has been able to take down highly sophisticated international money laundering networks involving digital assets. Such efforts reflect a shared dedication to protecting the community and strengthening cybersecurity.

The company remains committed to working with law enforcement agencies worldwide to help enhance trust in the digital asset space by maintaining robust compliance measures and actively cooperating with global law enforcement agencies, he noted.

Education is equally critical, said Mr Nirun, adding that Binance TH Academy has been promoting knowledge and understanding of the digital asset ecosystem and blockchain technology.

“The key is that the entire industry — exchanges, regulators and law enforcement — must work together. These collaborative efforts are making the crypto space safer while preserving the innovation and financial inclusion that digital assets promise,” he added.

River cruise operators in Thailand are reporting a cancellation rate of 30 to 40% after the Vijit Chao Phraya illumination festival was postponed for the mourning period for Her Majesty Queen Sirikit, the late Queen Mother, while hotels are urging authorities to provide detailed guidelines to prevent people from cancelling their New Year celebrations.

Poowadee Kunpalin, managing director of Chaophraya Cruise and advisor to the Chao Phraya River Tourism Association, said the river tourism outlook is in a vacuum period, lacking a clear direction from authorities in terms of holding events and celebrations.

Ms Poowadee said the Tourism Authority of Thailand (TAT) postponed the Vijit Chao Phraya illumination festival from Nov 1, as well as toning down the celebratory vibe.

She said the move would impact the tourism recovery along the river, as operators await a revival during the high season, particularly from key events such as Loy Krathong and Vijit Chao Phraya, to offset sluggish arrivals earlier this year.

Some travellers and tour groups already cancelled or postponed their bookings until regulations for events held along the Chao Phraya River become clearer, said Ms Poowadee.

The Marine Department previously asked cruise operators to refrain from playing any music.

The river tourism association has been negotiating with the department to find a middle ground, such as changing the music tone, she said. This could include playing musical pieces that were composed by the royal family, and providing a moment of silence before cruise trips.

‘We hope the authorities will ensure all stakeholders can move forward together,’ said Ms Poowadee.

She said the TAT should replicate Pattaya’s International Fireworks Festival, shifting from a festival theme to a commemoration of the late Queen Mother and her royal duties.

Along the Chao Phraya River, special fireworks and drone shows could honour the Queen Mother, as well as a traditional khon performance, which was part of her royal legacy, said Ms Poowadee.

She said the TAT should use this opportunity to promote Thai dresses endorsed by the Queen Mother, inviting both Thai and foreign tourists to wear them while joining the festivals.

Thienprasit Chaiyapatranun, president of the Thai Hotels Association, said many events in hotels, such as weddings and corporate parties, are confirmed as planned, though some parties with music were cancelled by clients.

Mr Thienprasit said the government and related authorities should provide more detailed guidelines for private operators, as they remain reluctant to unveil their promotional plans.

For example, he said it is still unclear whether hotels can set off their own fireworks for guests during the New Year countdown, or if malls and attractions can hold certain types of music events.

Mr Thienprasit said that without clear regulations, hotel bookings for the next two months are expected to be slow.

The Food and Drug Administration (FDA) has issued a public warning after laboratory tests revealed microbial contamination in the popular herbal inhaler ‘Hong Thai Formula 2’, registration number G 309/62. The product, manufactured by Hong Thai Panich, has been declared substandard under the Herbal Product Act.

According to the FDA announcement, dated Oct 20, samples of Hong Thai Herbal Inhaler Formula 2 were collected from the manufacturing site and submitted to the Department of Medical Sciences for laboratory testing.

The results showed that the product failed to meet microbial safety standards, with contamination detected in three categories: total aerobic microbial count, total combined yeasts and mould count, and Clostridium spp., a spore-forming bacterium.

These findings are a violation of the Ministry of Public Health’s 2021 regulation on quality standards for registered herbal formulations.

The FDA has classified the product as substandard under the Herbal Product Act 2019.

Thailand will not reopen its border with Cambodia until Phnom Penh meets four conditions and restores diplomatic ties, Prime Minister Anutin Charnvirakul declared on Tuesday.

Mr Anutin made his remark in Kuala Lumpur when asked about his signing of a new peace agreement with his Cambodian counterpart there on Sunday.

The four conditions set by Thailand are, the withdrawal of heavy weaponry from the border, landmine removal, the suppression of transnational criminal syndicates including scammers, and solutions to the conflicts in border areas.

The prime minister said the withdrawal of weaponry from conflict areas started when the agreement was signed. He told Cambodian Prime Minister Hun Manet that the withdrawal must not be only a symbolic act but be concrete and quick. Then, Thailand would free 18 Cambodian soldiers being held in detention.

He also wants Cambodia to cooperate fully with landmine removal which, he said, will be done mainly by Thai experts because the mines were laid in Thai territory.

Mr Anutin said now was not the time to discuss reopening the border. After the four conditions were met, the two countries needed to restore diplomatic relations, and only then move towards the reopening of border checkpoints, he said.

‘Everyone knows that the most important thing is the reopening of the border. Thailand holds to that,’ Mr Anutin said.

Government spokesman Siripong Angkasakulkiat said that although withdrawal of weapons had started, Thailand wanted it to continue in all seriousness, for the safety and sake of people living in border areas.

Defence Minister Gen Nattaphon Narkphanit said at Government House that Thailand and Cambodia both began the withdrawal of weaponry on Sunday night, but it was initially only symbolic. Thailand expected Cambodia to remove its BM-21 multiple rocket launchers, he said.

During its border attacks in late July, Cambodia fired large numbers of BM-21 rockets at Thai civilian locations – communities, stores and hospitals – and caused many casualties and property damage.

According to the defence minister, Thailand plans three phases of effective weapons withdrawal over at least six weeks, and Cambodia agrees with the plan.

The first phase started on Sunday. The second would commence within three weeks and the third stage was set for the sixth week. Details of each stage were still being discussed, he said.

Thai Facebook users have raised alarms after discovering that searching for a common word or name, “May,” which is both a popular female name and a month, can yield explicit and pornographic video results.

The problem, reported on Tuesday, appears to affect both the mobile application and desktop versions of Facebook.

Many netizens shared screenshots showing that when they search for “May,” the results include inappropriate images and videos, often appearing at the top of search results. This has raised concerns over the platform’s content moderation and the effectiveness of its algorithms in filtering adult content.

Initial investigations suggest that the issue may be caused by a malfunction or glitch in Facebook’s search engine or artificial intelligence (AI) moderation system, which is designed to automatically detect and block adult material.

The glitch may have allowed such content to bypass automated filters, exposing users, particularly young audiences, to explicit videos.

It remains unclear whether this problem is limited to Thai users or if it is more widespread. Facebook has yet to explain the cause of the incident.

Experts say such glitches highlight the ongoing challenges social media platforms face worldwide in managing user-generated content, especially in regions with high social media penetration like Thailand.

Thailand expects nearly 1.2 million tourists from the US next year, continuing a record-breaking trend for the market, which has been boosted by more flights including the return of United Airlines to Bangkok after an 11-year absence.

Thapanee Kiatphaibool, governor of the Tourism Authority of Thailand (TAT), said the US is a high-spending market with strong demand from premium travellers, driven by season 3 of the White Lotus TV series, in which Thailand was the main location.

Last year, Thailand welcomed a record high of 1.03 million American tourists, generating 58.8 billion baht.

The number this year is forecast to grow by 8%, reaching 1.1 million and generating over 62 billion baht.

According to the Tourism Ministry, American tourists had an average length of stay of 12 days, and daily expenditure of 4,726 baht.

Ms Thapanee said the agency remains bullish that Thailand will continue to set a new high for this market in 2026, maintaining a minimum 8% increase year-on-year, or reaching nearly 1.2 million arrivals, thanks to more robust flights.

Among the new routes being operated during this high season is United Airlines’ UA820 service connecting Bangkok with Los Angeles via Hong Kong using 257-seat Boeing 787-9s.

This route represents an extension of its earlier operation running between Los Angeles and Hong Kong. It now operates a daily flight to Bangkok, and another daily flight to Ho Chi Minh City, which commenced on Oct 26.

The flight to Bangkok marked the carrier’s return following an absence of 11 years, after the airline terminated its Narita-Bangkok route in 2014.

Marcel Fuchs, managing director of sales at United Airlines, said the airline is confident in US outbound travel to Asia-Pacific, as it will soon offer services to over 32 cities in the region, more than any other US carrier.

Mr Fuchs said Bangkok attracts strong forward bookings during the upcoming months, thanks to festive holidays such as Christmas and New Year.

He said this route includes mixed markets, including those visiting family and friends in Thailand, leisure travellers, and business trips.

Roughly 70% are expected to be passengers from the US, while 30% will join the flight in Hong Kong.

Mr Fuchs said premium seats such as business and premium economy classes attract strong demand for 18-19-hour long-haul flights.

Travellers from San Francisco can also visit Thailand via connecting flights in Hong Kong, as the airline operates a double daily between Hong Kong and San Francisco.

Its Los Angeles and San Francisco hubs offer connections via more than 75 nonstop flights.

Other new routes in the region include nonstop flights to Adelaide, Australia, while a second daily flight between San Francisco and Manila has also been added.

At present, United Airlines is the largest airline in the world in terms of available seat miles.

Ms Thapanee added that Alaska Airlines is also considering opening new routes from the US to Thailand, in addition to several other connecting flights via North Asia, such as EVA Air, which recently added flights to Dallas, Texas.

Among the latest long-haul connections this winter, Norse Atlantic has introduced five routes from the UK, Sweden and Norway to Thailand.

Two Chinese men were arrested in Pattaya early Tuesday morning for possession of crystal methamphetamine, smuggled vapes and cigarettes for alleged sale at parties.

Pattaya police said information from a Thai woman who went through a drug rehabilitation programme led to the arrest of the suspects, identified only as Lian and Qi, aged 33 and 46 years.

They were arrested at a condominium building car park in Jomtien area about 1.30am.

The young woman said she had taken drugs at a party attended by the two foreigners, who had used and sold the drugs to revellers.

The two men were arrested in the process of selling drugs to a Chinese buyer. They had packets containing a total of 49 grammes of crystal meth, aka ‘ice”, according to police.

Police searched the suspects’ rooms and found another 0.49gm of ‘ice’, about 2,000 vaping devices and 200 cartons of smuggled cigarettes.

They allegedly told police they obtained the goods from a Chinese friend in Bangkok, with the intent to sell to foreign tourists in Pattaya, especially at parties.

The Ministry of Commerce estimates that exports will grow by 9.4-10.4% this year, driven by clearer US tariffs, global economic recovery and rising demand for digital technology products, agricultural products and food.

Nantapong Chiralerspong, director-general of the Ministry of Commerce’s Trade Policy and Strategy Office, said exports expanded by 19% year-on-year to US$30.9 billion in September, marking the 15th consecutive month of growth and the highest rate of growth since April 2023.

Imports tallied $29.6 billion, a 17.2% year-on-year growth during the same period.

In the first nine months of this year, exports grew by 13.9% to $254.1 billion and imports rose by 11.9% to $254.5 billion.

Despite a decline of 8.1% in agricultural and agro-industrial products in September, certain sectors saw growth. These included processed chicken; vegetable and animal oil and fat; wheat products and prepared foods; sugar; and chilled and frozen shrimp.

In the first nine months, exports in this sector grew by 0.6%.

He added that exports of industrial products jumped by 26% in September.

Key products showing growth included computers, peripherals and parts; automotives, accessories and parts; gems and jewellery, excluding gold; phones and peripherals; machinery and parts; and electrical transformers and parts.

Industrial product exports grew by 18.6% in the first nine months.

Exports are expected to grow in the final quarter, driven by clarity on US tariffs, which have reduced market concerns. Thailand remains competitive with the 19% reciprocal tariff, Mr Nantapong said.

Moreover, the global economy is recovering, as reflected in increased production capacity, while the growth of the digital technology industry has driven exports in this sector.

There is also demand for processed agricultural products and food.

He added that monthly export averages are expected to reach between $25-26 billion for the rest of this year.

“Exports are projected to grow by 9.4-10.4% this year, surpassing the earlier target of 2-3%,” he said.

The value of this year’s total exports is projected to reach about $329.1-332.1 billion, which would mark a fresh record high.

However, he pointed out several risk factors that need to be monitored. These include trade retaliatory measures between the US and China, the effects of the possibility of a prolonged US government shutdown, the appreciation of the baht and developments regarding the Thailand-Cambodia border situation following the recent signing of a peace agreement.

The Association of Southeast Asian Nations (Asean) and China signed an upgraded free trade deal Tuesday covering the digital and green economy sectors and supply chain connectivity, amid steep US tariffs on the bloc’s members and intensifying trade friction between Beijing and Washington.

The third iteration of the agreement between Asean and China, each other’s largest trading partners, was inked by Malaysian trade minister Zafrul Abdul Aziz, representing Asean, and Chinese Commerce Minister Wang Wentao before the regional grouping and China started their summit in Kuala Lumpur.

In his opening remarks at the summit, Chinese Prime Minister Li Qiang who witnessed the signing together with his Malaysian counterpart Anwar Ibrahim, said the agreement “ushers in new opportunities for expanding economic and trade cooperation.”

“External forces are interfering in the region and many countries have been unreasonably subjected to high tariffs,” Li said without naming the United States.

Total trade between Asean and China amounted to US$770.94 billion in 2024, up 10.61% from a year earlier.

Asean members have been hit with higher tariffs imposed by US President Donald Trump. Trade tensions between China and the United States were rekindled earlier this month after Beijing announced new curbs on exports of rare earth elements essential for high-tech manufacturing.

Asean comprises Brunei, Cambodia, East Timor, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The Asean chair, Malaysian Prime Minister Anwar Ibrahim, said it all. Acknowledging US President Donald Trump’s presence during the signing ceremony on Thailand-Cambodia relations on Sunday, he stated: “We, of course, admire your tenacity and courage because the world needs leaders who promote peace strongly.”

With his signature on the joint declaration, Mr Trump can now tell the world he has halted eight wars. In Southeast Asia, those words confirm that Mr Trump is both the world’s renowned dealmaker and peacemaker. Asean does applaud his personal dedication to peace — at least for now.

It remains to be seen how the US engages with the Association of Southeast Asian Nations (Asean) during the rest of Mr Trump’s administration. During his first presidency, he did not have a good record when it came to Asean. In November 2017, he left the Asean summit in the Philippines halfway through. During this time, Asean-US ties were on autopilot. However, this time around, Mr Trump did score high points with Asean and managed to assert his role in easing tensions between two Asean member states.

However, the 11-member Asean is still very concerned about economic security relations with the US, which is considered one of the bloc’s most important trading partners. Any decision on the US tariff rates will immediately impact economic growth and societal development in the region. It will also influence the geopolitical shift in the era of multipolarity. With Mr Trump’s satisfaction over his peace success, the bloc hopes he will soften his approach to the weaponisation of trade barriers.

For the time being, not all Asean members have concluded trade agreements with the US. It is still an ongoing process. For the time being, Asean is aware that the Trump administration is doing everything it can to counter China’s growing influence across all dimensions in this part of the world. Regional experts agree it is a futile endeavour, as China is too deeply embedded in the region through trade, investment, and supply chains.

At the Kuala Lumpur summit, more than officials would like to admit, China is the real winner and all without a shouting match with the US. In support of free trade, China and Asean have signed their upgraded Asean-China Free Trade Area 3.0, which covers new trade areas including the digital economy, green economy, supply-chain connectivity, competition and consumer protection, among others.

For decades, China has been the No.1 trading partner of Asean. China is also a member of the Asean-led Regional Comprehensive Economic Partnership (RCEP). The RCEP leaders’ meeting was strongly committed to multilateralism and trade openness. The world’s largest free trade pact will become a new engine of growth in the broader Asia-Pacific. Hong Kong, Chile, Sri Lanka and Bangladesh have applied, and they will be able to join once they fulfil the criteria agreed at Sunday’s summit.

From a regional perspective, the Asean chair has also maximised the participation of the world’s most powerful leaders. It provided Brazilian President Luiz Inacio Lula da Silva with the opportunity to hold bilateral talks with Mr Trump to work on a trade deal. The Malaysian-US ties have been elevated to a comprehensive strategic partnership. The summit also attracted the largest number of 20-plus leaders attending. Malaysia has also raised its international profile and respect as a regional convenor.

When Mr Trump pledged to attend the Asean summit back in July, Mr Anwar probably did not have in mind Mr Trump’s presence at the signing ceremony, let alone watching him dancing at the tarmac and getting a ride from Kuala Lumpur International Airport with him in the “Beast” (Mr Trump’s bulletproof limousine) and “breaking the rules and protocols”. Most importantly, the chair has further promoted the relevance of Asean for peace and stability.

Kudos must go to all officials who have been working so hard behind the scenes. Malaysia, as the facilitator, has been an essential key player. The US must be considered an accelerator given its influence over the two conflicting parties, Thailand and Cambodia. They are currently negotiating a trading agreement with the US. Mr Trump was very succinct in saying that the US will have robust commerce and cooperation with both nations, “as long as they live in peace”.

Asean as an organisation must also be given credit. Without the Asean spirit enshrined in all its members — especially Bangkok and Phnom Penh — the peace efforts would not have been achieved. Deep down, the Asean charter remains the main toolkit that the conflict parties utilise.

At the signing ceremony, judging from the speeches of Prime Minister Anutin Charnvirakul and Cambodian Prime Minister Hun Manet, there were common convictions after taking their “monumental step”.

Mr Anutin described the signing as reflecting “our will to resolve differences peacefully in full respect of sovereignty and territorial integrity”. The country views the accord as a concrete step toward peace and a new chapter for Thailand and Cambodia. However, Mr Anutin reiterated the need for full implementation of the declaration to provide a foundation for lasting peace.

Hun Manet emphasised that conflicts must be settled peacefully, no matter how difficult or complex disputes may be. To his credit, he said that as he spoke, senior commanders from both countries were already in discussions on a phased withdrawal of heavy weapons. He wanted to show that Cambodia was taking implementation seriously.

It is important to remember that the details of the declaration were taken from the agreed minutes worked out since Aug 7, when the first special General Border Committee held its meeting. For nearly three months, both sides blamed each other for failing to carry out the agreed measures.

It is hoped that last week’s newly signed declaration, with all the fanfare, will allow the so-called Asean Observer Team (AOT) to better verify the implementation of the withdrawal of heavy weapons, cooperation in demining, anti-cybercrime, and human trafficking operations.

The next three months will be crucial for the reconciliation process, as they are the timeframe for the AOT mandate, which can be renewed if needed. The two countries agreed that each country will have its AOT, selected and approved by the Asean chair. All AOT representatives will be granted diplomatic immunity to enable them to perform their work efficiently. Each Asean member will dispatch two representatives to each AOT. Both countries agreed that Malaysia should continue to serve as the AOT chair after its rotational chairmanship expires on Dec 31.

Although Thailand is currently in the mourning period following the death of Her Majesty Queen Sirikit The Queen Mother, the Thai armed forces will remain vigilant and follow the accord. The AOT will closely monitor the action plan for the removal of heavy weapons, covering three phases. Weapon removal began on Sunday.

On the Thai side, heavy weapons in Surin, Lop Buri, Si Sa Ket and Ubon Ratchathani provinces will be removed in tandem with Cambodia’s actions across the border in Siem Reap, Kandal, Kampong Speu, Banteay Srey, Kampong Thom, and Preah Vihear provinces.

Finally, the future of their ties will also depend heavily on how they rebuild mutual trust and work toward normalisation. Most importantly, the current media propaganda and inflammatory rhetoric from both sides must stop immediately. The current peace accord is the litmus test for whether Thai and Cambodian media, across all platforms, are actually professional or just a megaphone.

During the past three months, media reports from both sides have done significant damage to people-to-people relations. It may take years or perhaps generations to restore good faith between Thais and Cambodians.

The signing of the peace accord on Sunday is a good start. Real peace depends on follow-through actions and will hinge on trust and restraint from both sides of the border.