The Securities and Exchange Commission of Thailand has officially approved Tether's stablecoin, USDT, as a recognized cryptocurrency in the country. This allows USDT to be listed on regulated exchanges and used for payments within Thailand.
Official Recognition of USDT in Thailand
As announced by Tether on March 10, the stablecoin USDT has been officially recognized as a legal cryptocurrency in Thailand. This decision followed a public consultation period where most responses were positive.
Positive Reception and Tether's Plans
USDT will now join a group of cryptocurrencies already approved in Thailand, including Bitcoin, Ethereum, XRP, and Stellar XLM. Additionally, digital currencies used by the Bank of Thailand for special payment programs are also part of this approved group. Tether CEO Paolo Ardoino acknowledged the significance of this milestone and emphasized the company's ongoing commitment to ensuring the safety of USDT for users in the country.
Regulatory Changes in Thailand
The country is actively working on cryptocurrency regulatory changes to facilitate innovation among investors. The government has also lifted limits on the amount regular investors can allocate to certain digital assets.
The approval of USDT in Thailand is a significant step towards strengthening the cryptocurrency market in the country and contributes to a clearer regulatory policy.
