Thailand Puts USDT Under Watch: The Grey Money Saga Unfolds

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In a move that would amuse exactly those who enjoy long evenings spent watching bureaucrats perform interpretive dances with ledgers, the Bank of Thailand has decided to keep tether (USDT) under its watchful gaze as part of a broader campaign against “grey money,” after discovering that a sizeable slice of local stablecoin activity involves foreign participants, according to a Tuesday report by The Nation.

According to The Nation’s report published by Nongluck Ajanapanya, the central bank’s expanded oversight includes closer scrutiny of cryptocurrency transactions, with stablecoins singled out as potential channels for unregulated capital flows. Bank of Thailand Governor Vitai Ratanakorn said roughly 40% of USDT sellers on Thai platforms are foreigners who should not be trading domestically, raising concerns about compliance and enforcement. While overall crypto trading volumes remain smaller than traditional foreign exchange markets, officials view stablecoins as attractive tools for moving funds quickly and discreetly across borders. As a result, USDT activity is reportedly now being monitored alongside other financial channels tied to grey money flows.

The monitoring of USDT forms part of a wider regulatory push that also targets unregulated digital gold trading, cash exchanges, e-wallets, and money exchange services, The Nation reported. Commercial banks will be required to flag large or suspicious transactions, while tighter controls are being introduced to trace fund movements more effectively. Thai authorities argue that these measures are necessary to protect financial stability and limit currency volatility linked to opaque transactions. By bringing stablecoins into the oversight framework, the Bank of Thailand is signaling that crypto markets will no longer sit outside its efforts to track and deter grey money activity. 🚦💼💫

FAQ 🇹🇭

  • Why is Thailand monitoring USDT?
    Authorities say stablecoins may be used as channels for grey money and foreign-linked fund flows.
  • What did regulators find about USDT trading?
    The Bank of Thailand said about 40% of USDT sellers on Thai platforms are foreigners.
  • Is crypto trading large in Thailand?
    Officials noted crypto volumes are smaller than FX markets but still significant enough to monitor.
  • What else is included in the crackdown?
    The campaign also targets digital gold trading, cash exchanges, e-wallets and money changers.

Don’t panic, dear reader. The galaxy of finance just gained a new star chart, and it’s labeled with bureaucratic precision. 🚀😂

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2026-01-13 20:43