Bank of Thailand audits high-volume stablecoin trades to crack down on illicit finance: report
The Block·
60-second summary
The Bank of Thailand is auditing high-volume stablecoin trades, specifically targeting USDT, with the central bank and SEC using data analytics tools to examine abnormal transactions and crack down on illicit finance. This move aims to curb money laundering and other financial crimes. The industry implications are significant, potentially impacting global stablecoin usage and regulation.
The central bank and the SEC have reportedly begun using data analytics tools to examine abnormal stablecoin trades, with a focus on USDT.