Bank of Thailand Targets USDT and Gray Money Flows
New measures against money laundering and suspicious financial activities.
1Fight Against the Gray Economy
The Bank of Thailand has launched a comprehensive campaign against the gray economy to prevent money laundering and suspicious financial activities. A rigorous audit process has been initiated, particularly focusing on stablecoins like USDT and cash transactions.
2Focus on Stablecoin Transactions
The Bank of Thailand is collaborating with the Securities and Exchange Commission to audit high-volume stablecoin transactions. USDT transactions, cash flows, and currency exchanges are under intense scrutiny.
3Suspicious Cash Transactions
Banks will closely monitor suspicious cash transactions and the exchange of large banknotes for smaller denominations. Full disclosure is required for cash deposits exceeding 5 million baht.
4Gold and Forex Trading
To prevent gray money flows, gold bullion trading and forex transactions have also been included in the audit scope. Banks are obligated to report suspicious activities in these areas.
5Mis-targeted Businesses
In 2025, three million bank accounts were frozen as part of the campaign. However, thousands of innocent individuals and legitimate businesses were adversely affected.
6Status of Crypto Trading
While crypto trading remains legal in Thailand, stablecoin payments are banned. The country’s largest crypto exchange, Bitkub, continues to operate with a daily trading volume of $26 million.