Bank of Thailand requires individuals to provide proof of source for cash deposits exceeding 5 million Thai baht, and has stepped up monitoring of stablecoin transactions.

According to local Thai media reports, Thailand will require individuals to verify the source of funds when depositing cash exceeding 5 million Thai baht (approximately $150,000). This measure expands the compliance obligations of commercial banks in cash networks, bulk currency exchange, precious metals trading, and suspicious stablecoin transactions, directly preventing regulated entities from facilitating systemic corruption or the shadow economy. Additionally, the Bank of Thailand and the Securities and Exchange Commission (SEC) are conducting joint audits, focusing on Tether (USDT), to identify and block illicit fund flows. This crackdown also includes tightened oversight of precious metals trading, requiring banks to report suspicious patterns such as rapid digital purchases and same-day physical withdrawals to combat money laundering.