Thailand SEC Greenlights USDT and USDC
The Thailand Securities and Exchange Commission (SEC) announced on March 6 the approval of two USD-pegged stablecoins—USDT (Tether) and USDC (USD Coin)—as authorized cryptocurrencies within the country.
This regulatory update enables both stablecoins to be used as trading pairs on local cryptocurrency exchanges, expanding Thailand's digital asset ecosystem. The amended rules will take effect on March 16.
Key Developments:
- Previously, Thailand only permitted Bitcoin (BTC), Ethereum (ETH), XRP, Stellar (XLM), and select cryptocurrencies used in the central bank’s "Programmable Payment Sandbox" for testing.
- USDT, issued by Tether, reportedly accounted for 40% of Thailand’s crypto trading volume before official approval.
- USDC, issued by Circle, ranks as the 7th-largest cryptocurrency and 2nd-largest stablecoin globally.
Japan’s Parallel Move:
On March 4, Japanese exchange SBI VC Trade became the first platform in the country to handle stablecoins after registering as an Electronic Payment Method Operator. A limited beta release of USDC trading is set for March 12.
Japan’s revised Payment Services Act (June 2023) classifies compliant stablecoins as electronic payment instruments, requiring exchanges to obtain regulatory registration.
👉 Explore global crypto regulations
FAQs
1. Why did Thailand approve USDT and USDC?
The decision followed industry feedback and aims to enhance liquidity and trading options for local investors.
2. How does this impact Thai crypto exchanges?
Exchanges can now list USDT/USDC pairs, attracting more users and trading volume.
3. What’s the significance of Japan’s stablecoin registration?
It marks a milestone in Japan’s crypto framework, paving the way for broader stablecoin adoption.
4. Are there risks with stablecoins?
Like all cryptocurrencies, price stability depends on issuer reserves and regulatory oversight.
👉 Learn how to trade stablecoins securely
Related Keywords:
- Stablecoin regulation
- Thailand SEC
- USDT trading
- USDC adoption
- Cryptocurrency compliance