Introduction
On May 13, 2025, Tether — the issuer of USDT stablecoin — announced the launch of its gold-backed token (XAU₮) on Thai digital asset exchange Maxbit. Each XAU₮ token represents 1 troy ounce of physical gold, expanding Tether's product lineup in Thailand's thriving crypto market.
Key Developments in Thailand's Crypto Landscape
- March 10, 2025: Thai SEC officially recognized USDT as an approved cryptocurrency
- December 7, 2023: Tether partnered with Bitkub (Thailand's largest crypto exchange) to launch blockchain education initiatives
- 2024 Global Ranking: Thailand ranked #16 in Chainalysis' Crypto Adoption Index
👉 Discover how Thailand is becoming Southeast Asia's crypto hub
Thailand's Progressive Digital Asset Policies
Regulatory Evolution Timeline
| Year | Milestone |
|---|---|
| 2018 | Enacted Digital Asset Business Decree |
| 2022 | Approved first Security Token Offering (STO) |
| 2025 | Recognized USDT as legal tender for crypto transactions |
Classifications of Digital Assets
- Cryptocurrencies: Mediums of exchange (e.g., BTC, ETH)
- Digital Tokens: Represent rights or investments
Token Issuance Regulations
Regulated Token Offerings
Requirements for Issuers:
- Obtain SEC approval
- Submit prospectus with token details
- Meet minimum capital requirements
Common Token Types:
- Real estate-backed tokens
- Infrastructure investment tokens
- Sustainability-linked tokens
Exempted Offerings
- Central bank digital currencies
- Consumer utility tokens
- Limited offerings (<50 investors or <20M THB)
Digital Exchange Compliance Framework
Licensing Requirements
✅ Minimum 100M THB registered capital
✅ Separate exchange operations from proprietary trading
✅ Implement AML/CFT protocols
Operational Obligations
- Regular financial audits
- Transparent fee structures
- Real-time transaction monitoring
👉 Learn about compliant crypto exchanges in Asia
Practical Considerations for Businesses
Corporate Structure Best Practices
- Establish local Thai entity
- Appoint clean-slate management team
- Maintain audited financial records
Ongoing Compliance
✔ Quarterly financial disclosures
✔ Annual license renewals
✔ Immediate reporting of suspicious activities
FAQ: Thailand's Digital Asset Policies
Q: Can foreign companies issue tokens in Thailand?
A: Yes, but must register a local subsidiary and obtain SEC approval.
Q: What's the tax treatment for crypto transactions?
A: Currently 15% capital gains tax for trading profits.
Q: How long does licensing typically take?
A: 6-9 months for complete regulatory approval.
Q: Are DeFi platforms regulated?
A: Only centralized exchanges currently fall under SEC oversight.
Q: Can tokens represent equity shares?
A: Yes, through approved Security Token Offerings.
Q: Is USDT widely accepted in Thailand?
A: Yes, it's the most traded stablecoin on Bitkub and other exchanges.
Conclusion
Thailand's clear regulatory framework — combined with initiatives like Tether's gold token rollout — positions it as Southeast Asia's most progressive jurisdiction for digital assets. Businesses entering this market should prioritize local compliance partnerships and long-term regulatory engagement.