Bank of Thailand to Issue Ban on Payment Providers Accepting Online Gambling Payments Next Week

โดย Kaohoon·TH·Read original
Summary · why it matters

The Bank of Thailand is preparing to strictly prohibit payment service providers from accepting payments for grey businesses and online gambling platforms, with an announcement to be published in the Royal Gazette within the next week. According to Bank of Thailand Governor Vitai Ratanakorn, the central bank is advancing a strategy to create bottlenecks that block illegal transactions, which have dragged Thailand's economic growth forecast down to only about 2.3% in 2026. Previous tightening measures have reduced cash withdrawals exceeding 1 million baht by more than 50%, to 50 billion baht per month from 100 billion baht per month, and physical gold withdrawals exceeding 2 kilograms have fallen by more than 70%. Meanwhile, trading of the USDT stablecoin has surged abnormally by several hundred billion USDT over the past 4 to 5 months, with behaviour observed of withdrawing or transferring funds in to buy and then immediately transferring them out to foreign countries under other people's names, suggesting intent to launder money. The Bank of Thailand has therefore designated 24 suspicious transaction patterns for financial institutions to use in detection, and is raising the level of KYC, CDD and EDD for high-risk groups. It has also joined with the Thai Bankers' Association and 11 financial associations under its supervision, covering non-bank groups, payment service providers, foreign exchange service providers and money transfer service providers, in signing a declaration of intent to close the door and prevent the financial system from serving as a channel for informal money and corruption in the long term.

Impact on assets 1

Others▼ · 1 stocks
Tether
USDT-USD
▼ NegativeRegulationrelevance

Bank of Thailand is banning payment providers from accepting online gambling payments and flagging abnormal USDT trading as suspected money laundering, tightening scrutiny on Tether's stablecoin.

Theme Impact 1

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