Bank of Thailand targets USDT and cash flows in gray money crackdown
Cointelegraph 2026-07-13 04:43:50
Context: Thailand is intensifying its crackdown on illicit financial activities, specifically targeting stablecoins and cash flows through a "gray money" economy. The country has been troubled by Chinese-affiliated scam centers that have been generating significant illicit gains. This crackdown is being led by the Bank of Thailand.
Key Facts
- The Bank of Thailand is targeting USDT, a popular stablecoin, as part of its efforts to curb the flow of "gray money" in the country.
- Thailand has been plagued by Chinese-affiliated scam centers that have been using the country's financial systems to launder illicit gains.
- The illicit gains from these scam centers have been flowing through a "gray money" economy, which refers to financial transactions that are not clearly legitimate but are not necessarily explicitly illegal either.