Thailand Cracks Down on Shadow Stablecoin Flows
A recent central bank report reveals that nearly 40% of USDT transactions on Thai digital platforms are driven by foreign entities—raising alarms over potential misuse in cross-border financial flows. This has led authorities to integrate stablecoin monitoring into its core financial surveillance framework.
Foreign Actors Behind Local Transactions?
Governor Vitai Ratanakorn highlighted that many of these users operate without proper licensing, yet execute high-volume trades within the country’s ecosystem. Their activities bypass traditional banking controls and could be linked to unreported capital movements, tax evasion, or even illicit fund cycling.
- Stablecoins emerge as a new vector for unregulated capital
- Expanded oversight now includes cash flows, gold trading, and e-payment channels
- Advanced blockchain analytics deployed for real-time tracking
While no major violations have been confirmed yet, officials warn unchecked digital asset flows could undermine monetary integrity. Upcoming regulations may enforce stricter identity verification and transaction reporting for crypto platforms.