Thailand SEC Approves Tethers USDT, Boosts Digital Asset Innovation
- Thailand SEC grants approval for USDT stablecoin, enabling trading.
- New regulations set to enhance flexibility for digital asset businesses.
- USDT accounts for 40% of global stablecoin volume, expanding in Thailand.
Thailands Securities and Exchange Commission (SEC) has officially approved Tethers USDT as a recognized cryptocurrency. This decision allows USDT to be traded within Thailand and listed on regulated exchanges. The approval also paves the way for the stablecoin to be accepted for payments and solidifies Thailands position as a leader in digital asset innovation.
USDT Gets SEC Approval in Thailand
The SECs new regulations, set to take effect on March 16, 2025, aim to provide greater flexibility for digital asset businesses. The decision follows a period of public consultation, with widespread support from industry participants. This approval makes Thailands regulatory framework for digital assets clearer and more supportive.
Thailand sets a significant milestone in the global digital asset landscape by recognizing USDT. The country has already emerged as one of the top 20 nations for cryptocurrency adoption. USDT, which accounts for approximately 40% of global stablecoin volume, will play a central role in Thailands digital economy.
The new regulations are expected to enhance the countrys financial ecosystem and smooth integration of digital assets into the traditional financial system. Thailands proactive approach will encourage further innovation and investment in the digital asset space. Additionally, the countrys regulatory clarity will provide investors with more options and motivate their participation.
Tethers CEO, Paolo Ardoino, expressed confidence in the Thai market and reiterated the companys commitment to support Thailands digital economy. He emphasized the importance of security, transparency, and reliability in stablecoin adoption. Tether intends to contribute to the growth of Thailands digital asset ecosystem by building a strong and sustainable infrastructure.
Global Stablecoin Adoption
As global stablecoin usage continues to expand, USDT and USDC currently dominate nearly 90% of the market. Analysts predict further growth because of increased interest from traditional financial institutions. Regulatory developments in key markets such as the U.S., will likely spur broader adoption of stablecoins across financial services.
In the U.S., regulatory discussions about stablecoins have gained momentum, with key players exploring stablecoin integration. Financial institutions such as Bank of America, Standard Chartered, and PayPal are developing stablecoin-related services. These developments highlight the growing acceptance of stablecoins as a bridge between traditional finance and the digital economy.
Read more: https://www.tronweekly.com/thailand-sec-approves-tethers-usdt-for-payments/
Text source: TronWeekly
