The Bank of Thailand has identified suspicious stablecoin transfers linked to efforts to evade regulatory scrutiny. The central bank is working with the securities regulator to address flows of gray money.
Data analytics tools flagged the abnormal trades in stablecoins, according to the central bank. Officials handed the findings to the securities regulator as part of a broader crackdown on the grey economy.
The Bank of Thailand and the SEC are now auditing high-volume USDT transactions. They are also requiring disclosures for cash deposits to limit gray money flows.
These steps target transfers designed to bypass oversight. The actions build on ongoing monitoring of cryptocurrency activity in Thailand.
