The Thailand Securities and Exchange Commission (SEC) was recognized by the USDT Stablecoin by the American Tether company with cryptocurrency, which can be used for listing on local exchanges and as a means of payments.

New rules should come into force on March 16.

The regulatory department held consultations with participants in a local cryptorrhist before updating the rules for regulating digital assets and approving stablecoin USDT as a means of payment within the country.

IN Tether Reportedthat the decision of Thai Sec will strengthen the company’s position in the local market. Representatives of the issuer drew attention to the fact that Thailand is included in the TOP-20 countries in terms of the adoption of digital assets, and USDT occupies about 40% of cryptocurrency trading volumes in the country.

Earlier, the main financial regulator of Thailand said that he was studying the possibility of launching local exchange funds (ETFs) on Bitcoin, whose share will be available not only to institutional investors, but also to private individuals.