Bank of Thailand and SEC Open Audit of High-Value USDT Transactions

Bank of Thailand and SEC open joint USDT audit

The Bank of Thailand and the Securities and Exchange Commission (SEC) began a joint audit of high-volume Tether (USDT) transactions. Governor Vitai Ratanakorn announced the measures on 11 July 2026. The review targets trades structured to hide ownership or bypass domestic remittance channels. The central bank is using advanced data analytics to flag transfers that avoid disclosure. Officials have already referred suspicious findings to the SEC for possible disciplinary action, and enforcement is set to intensify in the fourth quarter of 2026.

"The measures we are implementing are not short-term fixes; they require the continuous deployment of multiple parallel strategies", 11 July 2026. — Vitai Ratanakorn, Governor, Bank of Thailand

Cash deposits above 5 million baht will need source proof

The central bank plans new checks on large cash deposits. From the fourth quarter of 2026, anyone depositing 5 million baht or more, roughly $140,000, must document where the money came from. The rule extends similar controls that already apply to large withdrawals. Commercial banks will handle the checks and report suspicious patterns.

April withdrawal rules cut large cash activity by 35%

Thailand introduced enhanced checks on high-value cash withdrawals in April 2026. Customers withdrawing 5 million baht or more must give a verified reason for the transaction. The Bank of Thailand said the value of large cash withdrawals then fell by 35%. The new deposit rule aims to close the matching gap on money entering accounts.

Foreign sellers drove roughly 40% of USDT sell orders

A January 2026 investigation found that about 40% of USDT sellers on Thai platforms were foreign nationals. Governor Vitai Ratanakorn said such foreign sellers should not be operating in the domestic market. The audit is not a ban on the stablecoin. Thailand's SEC approved USDT and USD Coin (USDC) for regulated trading in March 2025, and both remain permitted on licensed exchanges. The review forms part of a wider campaign against the grey economy that also covers large banknote exchanges and gold trading.