Thailand’s central bank is tightening scrutiny of crypto transfers after finding some USDT▲$0.9991 transactions may be bypassing compliance rules.
The Bank of Thailand, the country’s central bank, is preparing to tighten oversight after uncovering USDT transactions that may have been structured to avoid disclosure requirements.
According to Thai business newspaper Thansettakij, which cited central bank Governor Vitai Ratanakorn, the Bank of Thailand is coordinating with Thailand’s Securities and Exchange Commission, the country’s crypto regulator, to examine suspicious crypto activity.
Regulators have begun using data analytics to identify unusually high USDT trading volumes and transactions that may have bypassed disclosure requirements or ordinary bank transfers, though the report didn’t identify the company providing the analytics tools.
Read also: Dune: USDT Dominates Payments, USDC Leads DeFi — Stablecoins No Longer Compete
No Regulatory Changes, For Now
No new stablecoin restrictions, penalties or reporting thresholds were announced. The report also didn’t suggest that ordinary USDT trading is illegal or that every high-volume transaction would be treated as suspicious.
Thailand remains one of the world’s leading markets for grassroots crypto adoption, ranking 17th in Chainalysis’ Global Crypto Adoption Index for retail-driven activity.
Thailand’s SEC added USDT and Circle’s USDC▲$0.9999 to its approved cryptocurrency list in March 2025, allowing both stablecoins to be used as base trading pairs on local crypto exchanges.
Since then, regulators have tightened rules requiring crypto companies to screen and suspend accounts linked to cybercrime. Crypto businesses are also required to share information and block transactions involving blacklisted individuals or wallet addresses.
In the meantime, the Bank of Thailand is reportedly finalizing the design of a 1:1 Thai baht-backed stablecoin. Slated for formal regulations between late 2026 and early 2027, the framework will initially restrict use to institutional settlements and green finance, rather than speculative retail use.
Read more: The Stablecoin Wars: Which Regulations Will Create the Next Winners and Losers?
