Thailand’s Securities and Exchange Commission (SEC) has officially approved the use of two major stablecoins, Tether (USDT) and USD Coin (USDC), for trading on regulated digital asset exchanges. This move marks a significant step in the country’s evolving crypto landscape, aligning Thailand with global trends where stablecoins play a crucial role in digital asset markets.
The approval, set to take effect on March 16, 2025, follows a public consultation in February, where the majority of respondents supported the inclusion of these stablecoins. Previously, Thailand only permitted cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, and Stellar Lumens (XLM) for trading on regulated platforms.
Impact on Thailand’s Crypto Market
Stablecoins like USDT and USDC are pegged to traditional fiat currencies, primarily the US dollar, offering price stability compared to more volatile cryptocurrencies. Their inclusion is expected to enhance liquidity, facilitate smoother transactions, and increase investor confidence in Thailand’s digital asset ecosystem.
This regulatory decision reflects the growing adoption of stablecoins worldwide, as they are commonly used in crypto trading, payments, and remittances. By integrating them into its financial framework, Thailand is taking a progressive approach to digital asset regulation, aiming to attract more crypto investment and usage within the country.
Industry Reactions
Tether CEO Paolo Ardoino welcomed the SEC’s decision, emphasizing that it paves the way for broader acceptance of USDT in Thailand’s financial sector. He highlighted Tether’s commitment to providing users with a secure, transparent, and reliable stablecoin experience.
Similarly, Circle, the issuer of USDC, praised Thailand’s forward-thinking regulatory stance, noting that this move could accelerate stablecoin adoption in Southeast Asia.
Thailand’s Position in the Global Crypto Market
Thailand’s decision to approve USDT and USDC could strengthen its position as a digital asset hub in the region. The move is expected to encourage greater adoption of blockchain technology, improve cross-border transactions, and support innovative financial services in the country.
With regulatory clarity now in place, Thailand’s crypto ecosystem is poised for expansion, with stablecoins providing a more efficient bridge between traditional finance and digital assets.
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