New rules aimed at strengthening oversight of stablecoin transactions are expected to be endorsed by the end of this year in a joint effort by the Securities and Exchange Commission (SEC) and the Bank of Thailand, amid growing concerns that digital assets could be used for money laundering, technology-related crime and evasion of cross-border fund transfer controls.The regulators met with digital asset operators on Friday to discuss a regulatory framework for stablecoin transactions.
The move comes as transaction volumes involving major stablecoins, such as Tether's USDT and Circle's USDC, have increased significantly, prompting regulators to examine additional safeguards against their misuse.
The discussions are intended to develop measures that can address emerging risks while remaining practical for digital asset businesses. The focus will be on strengthening transaction monitoring and preventing stablecoins from becoming a channel for illicit financial flows, said SEC deputy secretary-general Jomkwan Kongsakul.
Closer cooperation among regulators and digital asset operators is needed to strengthen oversight of stablecoin-related transactions and address risks involving money laundering, technology-related crime and cross-border fund transfers, she said.
