Thailand’s Securities and Exchange Commission (SEC) has granted approval for Tether’s USDT as a recognized cryptocurrency, a move expected to bolster the country’s digital asset sector.
The decision allows USD₮ to be traded on regulated exchanges in Thailand and paves the way for its use in payments, reinforcing the nation’s position as a leader in digital asset innovation. The new regulations, designed to provide greater flexibility for the industry, will come into effect on March 16, 2025, following a public consultation process finalized in February with broad industry support.
“The Thai market is highly important to us, and we are committed to providing a secure and transparent stablecoin experience,” said Paolo Ardoino, CEO of Tether. “We look forward to contributing to Thailand’s digital asset ecosystem by fostering a robust and sustainable stablecoin infrastructure.”
Thailand has emerged as one of the most crypto-friendly jurisdictions in recent years, ranking among the top 20 countries for digital asset adoption. USD₮ accounts for approximately 40% of trading volumes in the country. With a market capitalization of $142 billion, USD₮ is the world’s most widely used stablecoin, serving as a bridge between traditional finance and digital economies.
Thailand has been at the forefront of digital asset regulation in Southeast Asia. The country introduced the Digital Asset Business Decree in May 2018, a pioneering regulatory framework that governs cryptocurrencies and digital tokens under the oversight of the SEC. The decree sets out licensing requirements for crypto businesses, rules on Initial Coin Offerings (ICOs), and measures to prevent fraud and money laundering.
While individuals are permitted to buy, sell, and hold cryptocurrencies through approved exchanges, businesses must obtain a license to operate. ICOs require prior approval from the SEC to ensure investor protection and compliance with financial regulations.
Thailand’s proactive stance on digital assets has made it a key player in the global cryptocurrency landscape. By integrating USD₮ into its regulatory framework, the country aims to enhance financial innovation while maintaining strict compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) laws. Major exchanges, including Bitget, KuCoin, Binance, and Exolix, are closely monitored to ensure adherence to these regulations.
The approval of USD₮ is seen as a significant milestone for Thailand’s digital asset market, reinforcing its commitment to fostering a secure and transparent financial environment.
Shogun Lin
