Thailand Stablecoin Regulation
Stage: Live
Regulator: Bank of Thailand (BOT) / Securities and Exchange Commission (SEC)
Thailand’s live regime is the 2018 Digital Asset Decree (SEC) plus Payment Systems Act e-money rules (BOT). THB-backed programmable units are tested in the Enhanced Regulatory Sandbox with 1:1 segregated THB reserves. BOT plans a public hearing by end-2026 on a dedicated THB-backed stablecoin issuer framework limited first to institutional settlement. SEC listed USDC and USDT for trading in March 2025, issued a Travel Rule effective February 2027, and on 3 September 2026 approved principles for a 5 million THB daily stablecoin transfer cap. General use of digital assets as payment remains prohibited outside sandbox conditions.
Applicable Laws:
- Bank of Thailand Stablecoins Regulation Policy (Press Release No. 16/2021) - https://www.bot.or.th/en/news-and-media/news/news-20210319-2.html
- Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) - https://sec.or.th/EN/Pages/LawandRegulations/DigitalAssetBusiness.aspx
- SEC Notification – Addition of USDC and USDT to Approved Cryptocurrencies List - http://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=11613&rand=113627
- Programmable Payment Project (Thai Baht-backed Stablecoin Sandbox) – Enhanced Regulatory Sandbox - https://www.bot.or.th/en/financial-innovation/digital-finance/fintech-in-thailand/regulatory-sandbox/ProgrammablePayment.html
- SEC Travel Rule notification for digital-asset transfers - https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=13277
- SEC Board principles on stablecoin transactions via digital-asset businesses - https://www.sec.or.th/TH/Pages/News_Detail.aspx?SECID=13285
