Bank of Thailand targets USDT and cash flows in gray money crackdown
Thailand's central bank is intensifying surveillance of USDT and stablecoin transactions to combat money laundering and "gray money" linked to scam operations. The Bank of Thailand and Securities and Exchange Commission will audit high-volume stablecoin trades, cash flows, and currency exchanges. While crypto trading remains legal, digital asset payments are banned. This mirrors India's regulatory push against illicit crypto use and informal finance channels.
Key takeaways
- 1Thailand's central bank is auditing high-volume USDT transactions and cash flows to combat money laundering linked to scam operations.
- 2Scam losses reached 115 billion THB ($3.4 billion) in 2025, with stablecoins becoming a preferred method for illicit cross-border transfers.
- 3Cash deposits exceeding 5 million baht ($150,000) now require full disclosure; crypto trading remains legal but digital asset payments are banned.
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Why it matters
This reflects global regulatory tightening on stablecoins and gray money flows, directly paralleling India's crackdown on illicit crypto use and informal finance. Retail investors should expect similar surveillance measures on USDT/INR trades and high-value crypto transactions in India as regulators intensify compliance requirements.
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