Thai Central Bank Plans Stablescoins Regulations This Year

Thailand’s central bank expects to issue regulations on asset-backed stablecoins this year, an assistant governor said on Friday (March 19), after warning against use of a new baht-denominated stablecoin that was created abroad.

“The central bank is receiving opinions from market regulators and participants before announcing regulations, Siritida Panomwon Na Ayudhya told a briefing.

The Bank of Thailand (BOT) will regulate foreign currency-backed stablecoins, asset-backed stablecoins, and algorithmic stablecoins that are not illegal, she said.