Thai Central Bank to Regulate Stablecoins This Year

The central bank warned a Thai baht-denominated stablecoin is a threat to the stability of the currency system.

AccessTimeIconMar 19, 2021 at 11:14 a.m. UTC
Updated Sep 14, 2021 at 12:29 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Thailand’s central bank said it will issue regulations on asset-backed stablecoins this year after warning against the illegal use of a new baht-denominated stablecoin that was created outside the country.

  • The bank’s assistant governor said Friday there are plans to regulate asset-backed stablecoins only, not bitcoin, according to a Reuters report.
  • “The central bank is receiving opinions from market regulators and participants before announcing regulations,” Siritida Panomwon Na Ayudhya, assistant governor of Payment systems policy and financial technology group, Bank of Thailand, said at a briefing.
  • Siritida stressed the new regulations will not cover those cryptocurrencies without asset backing such as bitcoin and ethereum adding that “investors will have to take their own risks.”
  • On Wednesday, the Bank of Thailand warned against the use of the Thai baht-denominated stablecoin (THT), labeling it a threat to the stability of the national currency system.
  • The bank said the general public needs to exercise caution and refrain from participating in any activity involving THT, alleging users could be at risk of cybertheft and money laundering.
  • The baht stablecoin is created on the South Korean stablecoin platform Terra.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.