#ultimahora The SEC of Thailand approved the stablecoins USDT and USDC

The Thai regulator had previously approved Bitcoin, Ether, XRP, XLM, and certain tokens used for settlements by the central bank.

The Securities and Exchange Commission (SEC) of Thailand has approved USDt

USDT

€0.9156

from Tether and USDC

USDC

€0.916

from Circle for cryptocurrency operations, allowing stablecoins to be listed on regulated exchanges across the country.

The SEC of Thailand announced the approvals last week after seeking public opinion on proposed regulatory changes that were finalized in February and scheduled to take effect on March 16.

As Cointelegraph previously reported, there have been increasing calls within Thailand to legitimize the use of cryptocurrencies and urge the adoption of stablecoins to boost national revenue. This followed the creation of a regulatory environment in August 2024 for certain service providers to experiment with cryptocurrencies.

The stablecoins add to the other five cryptocurrencies authorized in the country: Bitcoin

BTC

€74,743

, Ether

ETH

€1,767

, XRP

XRP

€1.95

, Stellar Lumen

XLM

€0.2326

and cryptocurrencies that are being tested for settlement by the Bank of Thailand.

According to a Tether announcement on March 10, the approval allows USDt to be adopted by digital asset companies and used as a payment rail within the country.