Thailand’s Securities and Exchange Commission (SEC) has given the nod to Tether’s USDT to operate in the country. The move will see USDT granted legal approval in the Southeast Asian country as it seeks global regulatory compliance.
USDT Approved As Cryptocurrency In Thailand
Thailand’s securities watchdog has approved USDT as a legal cryptocurrency, clarifying its status after years of regulatory back and forth. According to a press release, the SEC’s approval follows Tether’s compliance with local regulations with the Commission keen on improving “flexibility” for cryptocurrency businesses.
Per the announcement, Tether can be legally traded in the country and listed on regulated cryptocurrency exchanges. The largest stablecoin by market capitalization will see increased usage by Thai residents and enterprises amid a gale of digitization.
“We highly value the Thai market and are continuously exploring ways to enhance our services and offerings,” said Tether CEO Paol
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