Tether sued over $42M in frozen coins, 6,600 students get crypto loans: Asia Express
THAILAND Thai businessmen sue Tether for freezing $42M Two Thai businessmen have sued stablecoin issuer Tether in a New York district court, claiming it illegally froze $42.4 million in Tether USDt (USDT) in October, as part of a broader case tied to a pig butchering scheme. The plaintiffs claimed that Tether illegally froze the $42 million without a warrant in October 2025, following an informal request from US Homeland Security Investigations. Authorities in the Eastern District of North Carolina only issued a seizure warrant for the funds later in February 2026. The warrant directed the burn and reissuance of the tokens to a government wallet. The plaintiffs vigorously deny any involvement in the investment scam, and their lawyer Mark Beckett said “this situation demonstrates that the government can seize stablecoins used in legitimate business transactions on the basis of inaccurate information.” Thailand adopts crypto Travel Rule with self-custodial wallet checks Thailand is tightening oversight of crypto transfers, including transactions involving self-custodial wallets, as it moves to align with global Anti-Money Laundering (AML) standards. Thailands Securities and Exchange Commission (SEC) issued new Travel Rule regulations requiring digital asset operators to collect information about parties involved in crypto transfer. The rules will take effect on Feb. 27, 2027. Thailand SEC proposes retail









