Global financial policies on digital assets are diverging as the United States and the European Union take different approaches to cryptocurrency integration. The US has moved to establish a Strategic Bitcoin Reserve, repurposing seized Bitcoin for national reserves, while European policymakers remain silent on the matter, focusing instead on launching the digital euro by October 2025. Meanwhile, in Thailand, the Securities and Exchange Commission (SEC) has approved USDT and USDC for trading on regulated exchanges, signaling a growing acceptance of stablecoins in financial markets.
Thailand SEC Approves USDT and USDC for Cryptocurrency Trading, Paving the Way for Stablecoin Adoption
The Thailand Securities and Exchange Commission (SEC) has officially approved Tether’s USDt (USDT) and Circle’s USDC (USDC) for cryptocurrency trading. This regulatory milestone allows both stablecoins to be listed on regulated exchanges across the country, opening the doors for greater adoption of digital assets in Thailand.
This landmark decision comes after months of regulatory discussions and public feedback, culminating in finalized changes that were set to take effect on March 16. The approval signals Thailand’s growing commitment to integrating digital assets into its financial ecosystem while ensuring compliance with regulatory frameworks.
Thailand has been actively shaping its digital asset regulations to align with global trends. The recent approval of USDT and USDC follows the launch of a regulatory sandbox in August 2024, which allowed select service providers to experiment with cryptocurrency usage.
As the country continues to explore blockchain-based financial solutions, stablecoins have emerged as a crucial element in digital payments and cross-border transactions.
With this new approval, USDT and USDC join an exclusive list of cryptocurrencies allowed for trading within the country. The list currently includes:
Bitcoin (BTC)
Ether (ETH)
XRP (XRP)
Stellar Lumens (XLM)
Cryptocurrencies tested for settlement by the Bank of Thailand
The inclusion of stablecoins in this regulatory framework is expected to enhance the efficiency of digital payments, providing businesses and investors with a more reliable and less volatile crypto alternative.
Tether has already issued a March 10 statement confirming that USDt’s approval will facilitate its adoption in digital asset businesses and as a payment rail in Thailand. This means that users and businesses can leverage USDT for faster, low-cost transactions, particularly in remittance payments and cross-border trade.
The demand for stablecoins as a remittance solution has been growing globally, particularly in emerging markets. A December 2024 report from Chainalysis highlighted stablecoins as a "transformative" use case for cross-border payments, especially in regions where traditional remittance services are costly and inefficient.
In Sub-Saharan Africa, stablecoin remittances are reportedly 60% cheaper than conventional methods.
28.5 million unique stablecoin users sent over 600 million transactions in December alone, according to a16z Crypto.
Despite this growth, stablecoins still account for a fraction of global transactions, with just $230 billion in circulating supply, compared to the $3.4 trillion processed by traditional payment systems.
Thailand's embrace of stablecoins suggests that the country is positioning itself as an early adopter of blockchain-based payment solutions, reducing reliance on outdated banking systems and embracing more efficient digital settlement mechanisms.
Regulatory Uncertainty Still Looms for Broader Crypto Adoption
While the Thailand SEC’s decision to approve USDT and USDC is a step toward greater cryptocurrency acceptance, challenges remain. Regulatory scrutiny continues to be a key issue, especially as global watchdogs tighten control over stablecoins due to concerns over their role in financial stability and monetary policy.
Despite these challenges, Thailand has demonstrated a proactive approach by encouraging innovation within regulated frameworks. The country's interest in spot Bitcoin ETFs and its crackdown on illicit crypto activities indicate that authorities are keen on balancing crypto innovation with financial security.
Thailand’s approval of stablecoin trading on regulated exchanges could have far-reaching implications:
Increased Adoption of Stablecoins: With legal recognition, stablecoins could become a mainstream financial instrument, providing a bridge between fiat and digital assets for businesses and individuals.
Growth of Crypto-Based Payments and Remittances: The remittance market in Southeast Asia could benefit significantly, as stablecoins offer faster, cheaper alternatives to traditional banking channels.
Potential Expansion into DeFi and Digital Banking: If Thailand continues on this trajectory, it may explore DeFi solutions and digital banking services powered by stablecoins.
Greater Institutional Participation in Digital Assets: The approval might attract local and international businesses, making Thailand a crypto-friendly hub in Asia.
Europe’s Silence on US Bitcoin Reserve Order Raises Questions on Digital Asset Strategy
In related news, the European Union (EU) has yet to respond to a groundbreaking executive order by US President Donald Trump, which outlines the creation of a US Strategic Bitcoin Reserve using confiscated cryptocurrency. This landmark policy shift positions Bitcoin as a strategic national asset, favoring early adopters due to its scarcity-driven economic model.
Despite the significance of the move, European policymakers have remained noticeably silent, raising speculation over the bloc’s stance on integrating Bitcoin (BTC) into national reserves. With the EU preparing to launch its own central bank digital currency (CBDC), the digital euro, some experts believe the silence may reflect a broader policy divergence between the US and Europe on digital assets.
On March 7, 2025, Trump’s executive order outlined a plan to build a Bitcoin reserve using BTC seized in criminal cases rather than purchasing it on the open market. The move sparked a global debate over the role of Bitcoin as a reserve asset, yet European lawmakers and financial institutions have not issued any official statements in response.
One of the reasons for the EU’s reluctance to follow a similar path is the lengthy bureaucratic process required to add new national reserve assets. Anastasija Plotnikova, CEO of blockchain regulatory firm Fideum, said, “Usually, there is a very clear legislative or executive process in adding different assets to national treasuries, and in many cases, it is not an active voter or central bank support that pushes this through.”
Another critical factor is the European Central Bank’s (ECB) longstanding opposition to Bitcoin. ECB President Christine Lagarde has repeatedly criticized BTC’s volatility and its role in financial markets, making it unlikely that the EU would consider adding Bitcoin to its reserves.
Instead of exploring Bitcoin as a reserve asset, the EU is moving forward with its own digital currency, the digital euro, which is expected to launch in October 2025.
The US and EU appear to be taking opposite approaches when it comes to digital assets. While the Trump administration is moving toward Bitcoin, European lawmakers are focused on introducing a state-controlled digital currency.
James Wo, CEO of venture capital firm DFG, suggests that the ECB’s preference for a CBDC over Bitcoin explains Europe’s lack of response to Trump’s executive order.
This difference in monetary strategy comes amid growing skepticism toward CBDCs globally. Critics argue that government-backed digital currencies could lead to greater financial surveillance and restrictions on financial freedom.
Despite opposition from Bitcoin advocates, Christine Lagarde has defended the digital euro, arguing that it will offer privacy protections and coexist with cash rather than replace it.
However, the European digital currency project has faced setbacks. The ECB’s recent Target 2 (T2) payment system outage has raised concerns about the EU’s ability to manage a complex digital financial network. If a centralized system like the digital euro were to experience similar technical failures, it could have devastating consequences for financial transactions across Europe.
Meanwhile, in July 2023, Brazil’s central bank published the source code for its own CBDC pilot, revealing that the system had built-in control mechanisms that could allow authorities to freeze or even reduce user funds. This revelation fueled concerns that similar government overreach could happen with the digital euro, leading many Europeans to oppose the ECB’s push for a state-controlled digital currency.
Bitcoin’s Role in the Future of National Reserves
While the European Central Bank remains resistant to Bitcoin, other governments have been increasingly considering it as a national reserve asset.
El Salvador became the first country to adopt Bitcoin as legal tender in 2021, holding BTC in its national treasury.
Hong Kong lawmakers have also discussed expanding Bitcoin’s role in financial reserves as the region continues to position itself as a crypto-friendly hub.
China, despite banning Bitcoin trading, has indirectly benefited from BTC reserves held by seized mining operations.
If Bitcoin continues to gain institutional adoption, European lawmakers may eventually be forced to reconsider their stance on BTC. However, for now, the ECB’s focus remains firmly on the digital euro, with no signs of integrating Bitcoin into its monetary policy.
The European Union’s silence on Trump’s Strategic Bitcoin Reserve order underscores the deep divide in digital asset policies between the United States and Europe. While the US moves to accumulate Bitcoin, the EU remains committed to launching a central bank digital currency—an approach that has drawn both praise and criticism.
As the October 2025 launch of the digital euro approaches, questions remain over whether a state-controlled CBDC can truly offer privacy and financial freedom, or if Europe is falling behind in embracing decentralized digital assets.
With Bitcoin adoption growing globally, the EU may eventually have to reevaluate its stance—but for now, it appears that Europe is sticking to its centralized approach, even as the world moves toward decentralized finance and digital assets.
