Woofun AI reports that the Bank of Thailand intends to conduct public hearings this year regarding a proposal to link the Thai baht to a stablecoin. The initial framework mandates full 1:1 baht reserves and restricts Phase 1 usage to financial institutions for settlement purposes.

Governor Vitai Ratanakorn emphasized that individual QR code payments must be denominated in Thai baht, prohibiting RMB transfers via platforms like Alipay and WeChat Pay. Between February 2025 and May 2026, regulators suspended approximately 5,000 accounts involved in such peer-to-peer RMB transfers.

Additionally, the bank clarified that licenses are not issued for speculative forex trading, with violations potentially resulting in fines up to 200,000 baht or imprisonment under existing laws.