stable coins

Story: Thai Businessmen Sue Tether Over $42M USDT Freeze Amid Tightening Crypto Regulations

By Evie Vavasseur

1 / 15

Thailand and Singapore Push Harder on Compliance. Thailand's SEC rolled out new Travel Rule regulations for digital asset operators.

2 / 15

Standard Chartered, SBI, and the Institutional Push. Standard Chartered launched spot trading for Bitcoin and Ether for institutional clients in the UAE.

3 / 15

Student Loans, Tokenization, and the DTCC. Pencil Finance wrapped up a $1 million onchain student loan cycle in Southeast Asia, reaching…

4 / 15

Two Thai businessmen are suing Tether in a New York district court over the freezing of $42.4 million in USDT.

5 / 15

The lawsuit raises a question that's been simmering for a while: how much authority does Tether actually have to freeze funds, and on whose say-so?

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Not a great moment for Tether's reputation in the region.

7 / 15

Thailand's SEC rolled out new Travel Rule regulations for digital asset operators. The rules require firms to collect detailed information on both sides of any crypto transfer —…

8 / 15

Singapore's Monetary Authority is moving too. The MAS is reviewing how it handles stablecoins issued across multiple jurisdictions.

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Australia's crypto firms are watching their calendar. September 30 is the deadline to secure a financial services license, and the Australian Securities and Investments…

10 / 15

Related: Thai Businessmen Challenge Tether Over $42.4M USDT Freeze Without Warrant

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In Japan, Remixpoint went the other direction on diversification. The company sold off all its altcoin holdings — Ether, Solana, XRP, and Dogecoin — and is now holding only…

12 / 15

Japan's Financial Services Agency issued a formal warning to Hong Kong-based Izakaya Limited for allegedly running unregistered cryptocurrency exchange services.

13 / 15

SBI Holdings is spending $270 million to take a 20% stake in Indonesian brokerage Ajaib Group.

14 / 15

Pencil Finance wrapped up a $1 million onchain student loan cycle in Southeast Asia, reaching 6,600 students that traditional lenders had basically ignored.

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More context: Tether Reports $1.3 Billion Profit and $5.2 Billion in Excess Reserves

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