Thailand SEC Approves Tether USDT for Trading and Payments
Thailands Securities and Exchange Commission (SEC) has granted compliance status to Tether (USDT), allowing it to be traded on regulated exchanges within the country. Tether announced the development today in a press release, noting that the Thai SEC has accepted its USD-pegged stablecoin as "an approved cryptocurrency." Following the approval, USDT can be listed and traded on regulated exchanges and accepted for payments. Thailands Crypto Regulation and Adoption Notably, the approval is part of Thailands updated digital asset regulation, which aims to enhance flexibility for crypto-related businesses. The updated regulation, which was finalized last month after public comment, will take effect on March 16, 2025. Per the announcement, Thailands approval of USDT marks a pivotal step in the evolution of the countrys digital asset market. Thailand ranks among the top crypto-friendly nations, establishing clear and favorable regulations for the industry. Based on its pro-crypto regulations, it ranked 10th in the list of countries with the most crypto adoption. Tether CEO Reacts Tether CEO Paolo Ardoino emphasized the significance of the Thailand market to the companys business. According to him, the stablecoin issuer is consistently exploring ways to expand its product offerings in Thailand while offering a secure and reliable stablecoin experience for Thai users. We prioritize supporting the adoption and long-term success of stablecoins in Thailand. Consequently, we aim to contribute to the growth of the countrys digital asset ecosystem by fostering a strong and sustainable stablecoin infrastructure, Ardoino added. Tethers Latest Strides In the meantime, Tether has been making significant strides since the beginning of the year. Last month, The Crypto Basic reported that the company offered to acquire the majority stake in Latin American agricultural company Adecoagro. In January, the leading stablecoin issuer relocated its headquarters to the Bitcoin-friendly country, El Salvador. This comes after Tether acquired a license from authorities in El Salvador to operate as a digital asset service provider. Thailands SEC has approved USDT for trades and payments within the country, making 2025 a memorable year for Tether. Meanwhile, USDT remains the worlds largest stablecoin by market cap, valued at $142.9 billion at the time of writing. Notably, its approval in Thailand promotes its global significance, particularly in bridging digital economies with traditional systems.
Text source: The Crypto Basic
