Thailand Greenlights USDT and USDC for Regulated Crypto Trading

​Thailand's Securities and Exchange Commission (SEC) has approved the use of Tether's USDT and Circle's USDC stablecoins for cryptocurrency trading on regulated exchanges. The decision, effective March 16, follows public consultations on regulatory updates finalized in February.

This move is part of Thailand's broader strategy to legitimize cryptocurrency use and promote stablecoin adoption to enhance domestic revenue. USDT and USDC now join a select group of approved cryptocurrencies, including Bitcoin, Ether, XRP, and Stellar Lumens.

Tether welcomed the approval, stating that it will enable USDT to be integrated into digital asset businesses and used as a payment method within Thailand. The development comes six months after the SEC authorized One Asset Management (ONEAM) to launch a Bitcoin ETF tailored for wealthy and institutional investors.

On the retail side, Thai authorities are tightening oversight by blocking access to unauthorized cryptocurrency platforms. The SEC has been tasked with compiling a list of such platforms for the Ministry of Digital Economy and Society, which will facilitate their blocking after court approval. A grace period has been announced to allow users to manage and withdraw assets from these platforms.

Meanwhile, Bitkub, Thailand's largest cryptocurrency exchange, is preparing for an initial public offering (IPO) on the Stock Exchange of Thailand (SET). The move aims to attract new capital and strengthen its market position, according to its owner.

The SEC's regulatory efforts also include addressing past misconduct, such as its 2024 investigation into Zipmex Thailand, which uncovered discrepancies in the company's reports and led to corruption charges against its former director and CEO.