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Thai Central Bank Seeks New Powers Over Online Trade
14 Jan
Summary
- Central bank aims for stronger authority on financial system risks.
- New powers sought to oversee online gold trading impacting the baht.
- Revised regulations expected for issuance between Jan. 23-29.
Thailand's central bank is actively seeking to broaden its authority to combat structural risks within the nation's financial system. Governor Vitai Ratanakorn indicated that the Bank of Thailand aims to gain more robust powers to tackle issues such as illicit money flows and speculative trading that can destabilize the baht.
Specifically, the bank has formally requested the finance minister to amend existing regulations. This move is intended to provide clearer oversight of online gold trading, a sector identified by officials as having a disproportionate effect on the local currency's value. The process for revising these rules is underway.
Officials anticipate that the updated regulations will be officially issued in the coming weeks, with a target issuance window between January 23 and January 29, 2026. This proactive step by the central bank underscores its commitment to maintaining financial stability and mitigating currency volatility.
