Thailand to tighten stablecoin transaction controls over fraud concerns
The Bank of Thailand is strengthening its oversight of stablecoin transactions as part of efforts to combat money laundering, illicit financing and so-called gray capital. Authorities will pay particular attention to transactions involving Tether (USDT), cash and foreign exchange in order to identify and block illegal financial flows.
According to local media reports, the regulator will work with Thailand’s Securities and Exchange Commission to review high-value stablecoin transactions.
“The measures we are implementing are not a short-term solution. They require the continuous application of several parallel strategies,” Bank of Thailand Governor Vitai Ratanakorn said.
Authorities intend to curb the gray economy, a significant part of which is linked to cash of suspicious origin. Scam call centers, which have proliferated across the region, are considered one of the sources of such funds.
There are no reliable estimates of the size of the gray economy. However, losses from fraud in Thailand reached 115 billion baht, or about $3.4 billion, in 2025. Around 173 million fraudulent calls and messages were recorded in the country during the same period.
Stablecoins have become a popular tool for transferring large amounts of money because they enable almost instant cross-border settlements.
What authorities will monitor
The new measures will expand commercial banks’ obligations to comply with financial monitoring requirements. Reviews will cover cash transactions, foreign exchange, gold bullion trading and suspicious stablecoin transactions.
Authorities aim to prevent regulated financial institutions from being used in corruption schemes or to support the shadow economy.
Customers conducting large cash transactions will be required to disclose the source of their funds. Regulators will also monitor cases in which large volumes of high-denomination banknotes are exchanged for smaller notes without a clear business purpose.
Full disclosure will also be required for cash deposits exceeding 5 million baht, or approximately $150,000.
Crypto trading remains legal
Thailand is often described as a crypto-friendly country. However, the central bank still prohibits the use of digital assets and stablecoins as payment for goods and services. In recent years, authorities have also regularly tightened requirements for cryptocurrency companies.
Crypto trading remains legal in the country. Bitkub, Thailand’s largest local exchange, processes around $26 million in daily trading volume.
According to CoinGecko, almost 40% of this volume comes from transactions related to foreign exchange.
Why USDT is popular in Thailand
USDT has gained widespread adoption in Thailand because of its peg to the U.S. dollar and high liquidity. For local users, it has become a convenient tool for holding funds in a more stable asset, making international transfers and settling transactions on cryptocurrency platforms. Unlike most cryptocurrencies, the price of USDT is generally not exposed to sharp fluctuations, making it attractive to those seeking to avoid market volatility.
Another factor is the popularity of the USDT/THB trading pair. It allows users to quickly exchange Thai baht for a digital equivalent of the dollar without relying on traditional bank transfers. Near-instant settlement and the ability to move large sums across borders have also made USDT popular among businesses, traders and participants in the informal financial sector, which has attracted the attention of regulators.
Thailand’s plans to tighten cryptocurrency oversight were first reported at the beginning of the year.
Latest USDT News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
