Bank of Thailand targets USDT and cash flows in gray money crackdown
While there are no reliable figures for the gray economy, 2025 scam losses may have amounted to $3.4 billion, amid 173 million scam calls and texts. Stablecoins have become a popular method of transferring large amounts due to near-instant cross-border settlement. Cash deposits of more than 5 million baht ($150,000) also require full disclosure.
- ▪While there are no reliable figures for the gray economy, 2025 scam losses may have amounted to $3.4 billion, amid 173 million scam calls and texts.
- ▪Stablecoins have become a popular method of transferring large amounts due to near-instant cross-border settlement.
- ▪Cash deposits of more than 5 million baht ($150,000) also require full disclosure.
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Written by Martin Youngstaff writerReviewed by Felix Ngstaff editorWritten by Martin Youngstaff writerReviewed by Felix Ngstaff editorBank of Thailand targets USDT and cash flows in gray money crackdownLatest NewsPublishedJul 13, 2026Thailand has been plagued by Chinese-affiliated scam centers, with illicit gains flowing through a “gray money” economy. Thailand’s central bank is stepping up stablecoin surveillance as part of a wider effort to crack down on money laundering, illicit finance and “gray money” in the country.The Bank of Thailand is working with the Kingdom’s Securities and Exchange Commission to audit high-volume stablecoin transactions, with a focus on USDt (USDT), cash transactions and currency exchanges, to identify and stop illicit financial flows.“The measures we are…
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