# Thai SEC Broadens Cryptocurrency Offerings by Adding Stablecoins USDC and USDT

- Link: https://www.thailand-business-news.com/banking/201121-thai-sec-broadens-cryptocurrency-offerings-by-adding-stablecoins-usdc-and-usdt
- Published: 2025-03-08T12:26:56+07:00
- Author: Li Zhong

**SEC revised criteria for cryptocurrencies list for ICOs, adding USDC and USDT.
These amendments will be effective from 16 March 2025, with Bitcoin, Ethereum, Ripple,
Stellar, and others already listed.**

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The Securities and Exchange Commission (SEC) has updated the criteria for cryptocurrencies
eligible for various uses in the digital asset ecosystem. The revised list includes
two additional cryptocurrencies, USD Coin (USDC) and Tether (USDT). These updates
apply to investments in digital tokens through ICO processes, transactions facilitated
by ICO portals for investors or issuers, and digital asset exchanges using these
cryptocurrencies as base trading pairs. The amended regulations will come into effect
on March 16, 2025.

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The SEC has outlined a list of approved cryptocurrencies eligible for investment
in digital tokens through ICO processes and as base trading pairs on digital asset
exchanges. Currently, the approved cryptocurrencies include Bitcoin (BTC), Ethereum(
ETH), Ripple (XRP), Stellar (XLM), and cryptocurrencies utilized for testing settlements
within the Bank of Thailand’s Programmable Payment Sandbox.

## Stablecoins: USDC and USDT Overview

Stablecoins are cryptocurrencies designed to maintain a stable value, typically 
by being pegged to a reserve of assets like traditional fiat currencies. USDC (USD
Coin) and USDT (Tether) are two popular stablecoins, each pegged to the US dollar
on a one-to-one basis. USDC was launched by Circle, initially on the Ethereum blockchain,
and has since expanded to other blockchains. It is not produced by mining but is
powered by smart contracts. USDT, on the other hand, was first launched on the Omni
blockchain by Tether Ltd. Both stablecoins are used within the crypto ecosystem 
for various purposes, including trading on exchanges, remittances, and in decentralized
finance (DeFi) applications.

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## USDC vs. USDT: Key Features and Differences

USDC and USDT share similarities such as stable value, fast transaction speed, cheap
transaction cost, accessibility, liquidity, and Ethereum compatibility. However,
they differ in reserve management, auditing, global adoption, divisibility, and 
transparency. USDC’s asset reserves are held in the management and custody of top
financial institutions, including BNY Mellon and BlackRock, and are audited by Deloitte.

In contrast, USDT’s asset reserve is managed by issuer company Tether Ltd., with
monthly asset reserve reports provided but no regular auditing information available
publicly. USDC has a market cap of about $28 billion, while USDT’s market cap is
significantly larger at $83 billion as of June 06, 2023. USDC can be divided into
units like fiat currency, while USDT is not divisible. USDC maintains public trust
and transparency through regular audits and reserve reports, while USDT has faced
scrutiny concerning its transparent working model.

**Source** : [SEC adds USDC and USDT to the cryptocurrencies list](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=11613&rand=113627)