Thailand Cracks Down on USDT Transactions Amid Scrutiny

The Bank of Thailand is increasing scrutiny of cryptocurrency transactions after discovering some USDT transfers may have bypassed compliance rules.

According to Thai business newspaper Thansettakij, citing central bank Governor Vitai Ratanakorn, the Bank of Thailand is working with Thailand's Securities and Exchange Commission to examine suspicious crypto activity.

Regulators are using data analytics to identify unusually high USDT trading volumes and transactions that may have avoided disclosure requirements or ordinary bank transfers. The report did not specify which company provided the analytics tools.

The Bank of Thailand is reportedly finalizing a framework for a 1:1 Thai baht-backed stablecoin, slated for formal regulations between late 2026 and early 2027, initially restricted to institutional settlements and green finance.