Previously, the Thai Securities and Exchange Commission (SEC) had approved Bitcoin, Ether, XRP, XLM and some tokens used for payments by the central bank.

USDT and USDC approved in Thailand

The Thai Securities and Exchange Commission (SEC) has approved Tether's USDt and Circle's USDC for cryptocurrency transactions. Accordingly, these stablecoins will be listed on regulated exchanges in Thailand.

The approval announcement was made by the SEC last week, after public feedback on regulatory changes finalized in February and effective from March 16.

Recently, there have been strong demands in Thailand to legalize the use of cryptocurrencies and encourage the adoption of stablecoins to boost the domestic economy. This stems from the "regulatory sandbox" initiative launched in August 2024, allowing service providers to experiment with cryptocurrencies.

In addition to USDt and USDC, only five other cryptocurrencies are currently approved for trading in Thailand, including Bitcoin, Ether, XRP, Stellar Lumen and some cryptocurrencies being tested for payments by the Bank of Thailand.

According to a statement from Tether on March 10, this approval allows USDt to be applied in digital asset businesses and used as a means of payment in the country.

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The article Thailand "Gives Green Light" to USDT and USDC Stablecoins first appeared on CoinMoi.