Thailand's Central Bank Reviews High-Value USDT Transactions to Combat Money Laundering and Illicit Funds

Odaily reported that the Bank of Thailand is strengthening stablecoin regulation to combat money laundering, illegal financing, and "grey capital" in the country. The central bank is collaborating with the Securities and Exchange Commission to review high-value stablecoin transactions, focusing on USDt (USDT), cash transactions, and foreign exchange dealings to identify and prevent illicit fund flows. Thailand will also expand the compliance responsibilities of commercial banks in areas such as cash networks, foreign exchange services, gold trading, and suspicious stablecoin transactions. In 2025, Thailand suffered losses of 115 billion Thai baht (approximately $3.4 billion) due to scams, recording about 173 million fraudulent calls and text messages. Cash deposits exceeding 5 million Thai baht will also require full disclosure. Bitkub, Thailand's largest exchange, processes a daily trading volume of approximately $26 million, nearly 40% of which is foreign exchange trading, with the USDT/THB trading pair being the most popular. In 2025, Thailand's banking sector froze 3 million bank accounts as part of efforts to crack down on nominee accounts, grey capital, and suspicious activities. (Cointelegraph).