Thailand Moves to Bring USDT Under Scrutiny in Grey-Money Crackdown
The Bank of Thailand has reportedly moved to bring tether (USDT) under its regulatory oversight, The Nation reported, tying the action to a broader crackdown on so-called grey money. Regulators say a substantial portion of stablecoin activity on local platforms involves foreign participants, prompting closer scrutiny of flows that may skirt anti-money-laundering and capital controls. The development marks a rare direct mention of a specific stablecoin in Thai oversight discussions.
This shift matters because tighter oversight could squeeze liquidity on local exchanges and peer-to-peer venues that rely on USDT for trading and cross-border transfers. Platforms, payment providers, and offshore users may face increased KYC/AML checks, reporting requirements, or limits on foreign-driven transactions. Market participants will be watching for formal guidance from the central bank and any immediate effects on USDT volumes in Thailand, which could influence regional stablecoin policy debates.