In a move that’s sure to shake up the world of cryptocurrency, Thailand’s Securities and Exchange Commission has given Tether’s USDT the official nod of approval. This means that the stablecoin can now be traded on regulated exchanges within the Land of Smiles.
According to a press release from Tether, this approval comes as part of updated digital asset regulations that are set to take effect on March 16. With this decision, USDT now has access to one of Asia’s largest markets, as Thailand ranks among the top 20 globally in terms of crypto adoption.
Tether’s chief executive, Paolo Ardoino, welcomed the decision with open arms, stating that the company’s priority is to “provide users in Thailand with a secure, transparent, and reliable stablecoin experience.”
“We are committed to supporting the long-term success and adoption of stablecoins in Thailand and look forward to contributing to the growth of the country’s digital asset ecosystem by fostering a strong and sustainable stablecoin infrastructure.”
Paolo Ardoino
This approval comes hot on the heels of Tether hiring a new chief financial officer, Simon McWilliams, to address lingering audit concerns. McWilliams aims to drive the company towards a full financial audit, which could help to address ongoing scrutiny over Tether’s operations, particularly regarding the absence of a comprehensive audit.
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2025-03-10 16:16