The Securities and Exchange Commission of Thailand confirmed that the USDT stablecoin, issued by the American company Tether, is now officially considered a cryptocurrency that can be used for listing on local exchanges and as a means of payment. The new rules are expected to come into effect on March 16.

Before making changes to the regulation of digital assets and recognizing USDT as a means of payment, the regulator held consultations with representatives of the local cryptocurrency market. Thus, the updated policy has become even more aimed at developing and simplifying the use of digital currencies in the country.

Tether commented that the decision of the Thai Securities and Exchange Commission will significantly strengthen their position in the country's market. Tether representatives noted that Thailand is one of the world's leading countries in terms of adoption of digital currencies, with USDT accounting for almost 40% of the total cryptocurrency trading volume in the region.

Earlier, Thailand's financial regulator announced its intention to consider the possibility of creating local exchange-traded funds (ETFs) based on Bitcoin, whose shares will be available to both large institutional players and private investors. This initiative could open up new horizons for market participants and attract more investment in digital assets.