Thailand Requires Source Verification for Personal Cash Deposits Over 5 Million Baht; Central Bank Audits USDT

According to Thai local media, Thailand will require individuals to verify the source of cash deposits exceeding 5 million baht (approximately $150,000), effective July 13. The measure expands commercial banks' compliance responsibilities across cash networks, currency exchanges, precious metals transactions, and suspicious stablecoin activity to prevent corruption and shadow economy financing.

The Bank of Thailand and the Securities and Exchange Commission (SEC) are jointly conducting audits focused on Tether (USDT) to identify and halt illicit fund flows. Banks must also report suspicious patterns in precious metals trading, including rapid digital purchases followed by same-day physical withdrawals, to combat money laundering.