The Bank of Thailand and the country's Securities and Exchange Commission have reportedly initiated audits of high-volume stablecoin transactions as part of a broader crackdown on illicit finance and the shadow economy.
According to local news outlet Thansettakij, BOT Governor Vitai Ratanakorn said the central bank and the SEC have begun using data analytics tools to examine abnormal trading activity in stablecoins, specifically focusing on Tether's USDT.
Preliminary reviews have already identified several transactions that appear designed to evade disclosure requirements or bypass normal fund transfer systems, according to the report. The BOT is currently coordinating with the SEC to determine follow-up regulatory actions.
The Block has reached out to the BOT and SEC for comment.
Ongoing crackdown
