Thailand cracks down on large USDT trades, cash deposits

Thailand will require proof of source for cash deposits over 5 million baht and is auditing high-value USDT transactions, extending anti-money-laundering rules to stablecoins.

Thailand is stepping up efforts to combat grey-market money flows by introducing new regulations targeting large cash deposits and high-value Tether (USDT) transactions. Beginning in Q4 2026, anyone depositing 5 million baht (about $150,000) or more in cash must provide documentation verifying the source of funds. The Bank of Thailand and the Securities and Exchange Commission are jointly auditing unusually high-volume USDT trades, focusing on transactions that may conceal ownership or bypass standard remittance channels. These measures extend anti-money-laundering scrutiny to stablecoins, which have previously operated outside mainstream banking oversight. Authorities note that earlier due-diligence rules led to a 35% drop in large cash withdrawals and a significant reduction in gold withdrawals, demonstrating the crackdown's effectiveness. The new rules aim to boost transparency and oversight in both traditional and digital financial sectors, rather than ban crypto activity.