Thailand’s SEC had previously approved Bitcoin, Ether, XRP, XLM and certain tokens used for settlement by the central bank.
The Thailand Securities and Exchange Commission (SEC) has approved Tether’s USDt (USDT) and Circle’s USDC (USDC) for cryptocurrency trades, allowing the stablecoins to be listed on regulated exchanges across the country.
Thailand’s SEC announced the approvals last week after soliciting feedback from the public on proposed regulatory changes that were finalized in February and scheduled to go into effect on March 16.
As Cointelegraph previously reported, there have been growing calls within Thailand to legitimize cryptocurrency usage and urge stablecoin adoption to boost domestic revenue. This followed the creation of a regulatory sandbox in August 2024 for select service providers to experiment with cryptocurrencies.
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