The Bank of Thailand is monitoring USDT "grey market" transactions
ChainCatcher reported that the Bank of Thailand stated, as part of a broader effort to combat so-called "grey money," the institution has found under its monitoring framework that a significant portion of stablecoin activity on local platforms is related to foreign entities.
Bank of Thailand Governor Vitai Ratanakorn said that about 40% of USDT sellers operating on Thai platforms are foreigners, who "should not be trading in the country." Therefore, stablecoins, along with cash flows, gold trading, and e-wallet fund movements, are subject to stricter scrutiny.
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