Thailand’s SEC Just Approved USDT & USDC, Alongside Bitcoin & Ethereum as Approved Tokens!
Thailand’s financial regulator, the U.S. Securities and Exchange Commission (SEC), has expanded its list of recognized cryptocurrencies. This country has Tethers (USDT) are now allowed and Circle’s USD Coin (USDC), involving licensed digital asset exchanges. This decision is the growing demand for stablecoins in global cryptocurrency transactions and payments.
Thai regulators add USDC, USDT Stablecoins
With approval, Thailand has opened the door to a key part of the global crypto market. Due to its stable price, stable currencies such as USDT and USDC (USDT) and USDC (USDC) are widely used in transactions, payments and remittances.
By adding USDT USDC, along with Bitcoin, Ethereum, XRP and Stellar, lists its approved cryptocurrencies, and Thailand is expanding its digital asset ecosystem. This move not only increases trading opportunities, but also enhances Thailand’s position as a hub for adopting cryptocurrencies in Asia.
New regulations that will come into effect on March 16 will allow licensed exchanges to list and trade these stable stocks, making it easier for investors and traders to migrate funds in a crypto ecosystem.
Thailand keeps aligned with global crypto trends
The decision to approve USDT and USDC came after a public consultation in February, with most participants supporting the idea. In regions such as Southeast Asia, Africa and Latin America, Stabrekins is known for its reliability and ease of use in transactions.
Tethers alone account for 40% of the country’s total trading activity. As of now, USDT holds a market capitalization of US$142 billion, while USDC holds it for US$58 billion.
Promote transparency
Tether’s Stablecoin’s approval comes at a time when the company reviews its financial transparency. Just last week, Company appointed Simon McWilliams is its chief financial officer to address concerns about its financial audit.
The company has released a quarterly report on Italian BDO verification, but some critics believe a comprehensive financial audit is needed. The cryptocurrency industry has driven higher transparency after the market crash in 2022.
