Thai Central Bank Outlines Plans for Digital Baht

The Bank of Thailand (BOT) on Friday published guidance on stablecoins and also called for input on a regulatory consultation.

The BOT grouped stablecoins into two, distinguishing stablecoins backed by the country’s currency, the baht, from the rest.

The bank’s baht-centric approach is different from other central banks that distinguish between fiats and non-fiats, for instance a stablecoin whose value is tied to the US dollar and a stablecoin pegged to the price of gold.