Overview
- The Bank of Thailand and the Securities and Exchange Commission opened a joint audit of high‑volume USDT (Tether) transactions following a July 11 announcement by Governor Vitai Ratanakorn.
- Banks will be required to verify the source of cash for deposits of 5 million baht or more under rules set to take effect in the fourth quarter of 2026.
- The audit focuses on tracing beneficial ownership and detecting trades that may route value outside domestic remittance channels or use mule accounts and over‑the‑counter flows.
- Earlier April measures that checked large cash withdrawals cut high‑value cash withdrawals by about 35% and caused physical gold withdrawals to fall from roughly 4,000 kg to about 700 kg.
- The actions complete a policy cycle that opened USDT and USDC to licensed Thai exchanges in March 2025 while tightening rules to push activity onto regulated rails and reduce offshore or shadow flows.