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Bank of Thailand plans to regulate asset-backed stablecoins this year

Published 03/19/2021, 08:00 AM
Updated 03/21/2021, 01:00 AM
Bank of Thailand plans to regulate asset-backed stablecoins this year

The Bank of Thailand, or BoT, is upping its game on the stablecoin front. This week, the institution warned citizens that Thai Baht Digital (THT), a baht-pegged stablecoin issued by the South Korean firm Terra, has no legal assurances or protection and violates the country's currency act.

According to a report published on Friday, central bank Assistant Governor Siritida Panomwon Na Ayudhya told a briefing that the BoT is taking into consideration opinions from market regulators and participants before introducing its measures.

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