The Securities and Exchange Commission of Thailand (SEC) has recognized Tether’s USDT as a legitimate cryptocurrency, permitting the stablecoin’s listing on regulated platforms and its use in transactions.
The new regulations will come into effect on March 16, 2025. They are designed to enhance business flexibility in the digital assets sector.
The approval of the initiative followed a public consultation on the proposed changes.
According to Tether, USDT accounts for approximately 40% of cryptocurrency trading volume in the country. Thailand has become one of the most favorable jurisdictions for digital assets and ranks among the top 20 countries globally in terms of their adoption.
Previously, the EU regulator stated that MiCA does not prohibit the holding and transfer of stablecoins like USDT. Local CASP must “primarily limit services that facilitate the purchase” of such assets.
At the end of 2024, the company’s net profit reached a record $13 billion.
In March, Tether promised a “full audit” following the appointment of Simon McWilliams as CFO.