Bank of Thailand Implements New Checks on USDT Transactions, Reduces Large Cash Withdrawals by 35%

According to Bank of Thailand Governor Vitai Ratanakorn, the central bank is implementing strict new compliance measures to combat illicit flows through stablecoins and alternative payment channels. The bank established a system to flag USDT transactions and monitor abnormally large volumes that may be used to evade regulatory oversight.

Since April, the bank has also required customers withdrawing over $150,000 to provide source-of-funds documentation, reducing such withdrawals by 35%. Additionally, authorities have restricted unusual gold bullion purchases, with monthly volumes dropping from 4,000 kg to 700 kg, helping strengthen the Thai baht.