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Regulation

Thai Central Bank Plans Stablescoins Regulations This Year

Fri, 19 Mar 2021, 07:58 am UTC

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.

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Comment 1

Comment tips

Great article. Requesting a follow-up. Excellent analysis.

0/1000

Comment tips

Great article. Requesting a follow-up. Excellent analysis.
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