Thailand Wants to Audit USDT Transactions in New Crackdown

What happened

Thailand’s central bank is considering a rule that anyone depositing 5 million baht (about $150,000) or more in cash must prove where the money came from, and it will also audit large Tether (USDT) transactions together with securities regulators.

Confirmed

Global impact / market context

The measure targets the “grey economy,” aiming to stop money‑laundering and illicit financing through cash and stablecoins, which could tighten compliance costs for banks and crypto firms operating in Thailand.

Analyst inference

Regulators in many countries are tightening rules that require proof of money sources and oversight of digital tokens, so Thailand’s plan follows a global push to curb illegal finance and protect financial stability.

Analyst inference

What to watch

1. When the cash‑deposit proof rule is finalized, banks will need to update customer onboarding and monitoring systems to verify large cash sources, affecting their operational workload. Proposed
2. How the joint audit of USDT transactions is structured, including reporting formats and frequency, will determine compliance burdens for crypto exchanges and custodians in Thailand. Proposed
3. The extent to which Thailand’s grey‑money campaign expands to other digital assets, revealing the regulator’s broader strategy toward illicit finance in the crypto sector. Confirmed

Affected assets

• USDT — Tether

Evidence

• beincrypto.com