- Thailands SEC proposes a $151K daily cap on external stablecoin transfers.
- Third-party wallet transfers would face stricter ownership verification rules.
- Off-platform crypto trades would require minimum values and price disclosures.
Thailands Securities and Exchange Commission (SEC) has proposed a 5 million baht daily limit on stablecoin transfers involving external wallets. The proposed rules would also require transfers to originate from and reach wallets or accounts verified as belonging to the same customer.
Thailand SEC Targets Third-Party Stablecoin Transfers
The SEC opened a public consultation on September 11 covering stablecoin transactions handled by licensed digital asset operators. The proposal aims to reduce money laundering, cybercrime and circumvention of international transfer controls.
Under the proposed framework, customers could transfer up to 5 million baht, or roughly $151,000, per day through each licensed operator. The limit would apply separately to inbound and outbound stablecoin transfers involving external accounts or wallets.
Operators would also need to verify that the source and destination wallets belong to the same customer. Transfers involving another persons account or wallet would therefore be prohibited.
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The proposed controls would operate alongside Travel Rule requirements. Licensed operators would need to screen customer information and monitor blockchain activity for links to high-risk wallets, watchlists and potentially illicit transactions.
The SEC also wants transfer values to remain consistent with customers‘ declared income sources and financial positions. This requirement could result in additional scrutiny when transaction activity appears inconsistent with a customer’s financial profile.
However, transfers between Thai-regulated digital asset operators would be exempt from the 5 million baht ceiling when both businesses comply with Travel Rule requirements.
Thailand SEC Proposes Limits on Stablecoin Transfers to Third-Party Wallets, With ~$150K Daily One-Way Cap
Thailands SEC opened a consultation on new stablecoin rules that would require deposits and withdrawals through regulated digital asset operators to originate from and go…
Proposed Rules Extend Beyond Stablecoin Transfers
The consultation also covers off-platform transactions conducted by digital asset brokers and dealers. Such transactions would require a minimum value of 3 million baht, equivalent to roughly $91,000.
Businesses providing these services would need to disclose digital asset trading prices through their websites or platforms. Brokers would also be prohibited from directly arranging off-platform transactions between customers.
Instead, brokers could facilitate customer matches through regulated exchanges. The SEC said these measures would improve price transparency while reducing opportunities for money laundering and cybercrime.
Market makers and liquidity providers would face additional oversight under the proposal. Exchanges would need to disclose market makers and the digital assets supported by their liquidity activities.
The SEC also proposes stronger screening of market makers, liquidity providers and source exchanges. These checks would examine asset origins, transaction purposes, regulatory supervision and potential conflicts of interest.
Certain exemptions would apply to businesses using stablecoins through accounts held in their own names. Bank of Thailand-supervised institutions could also qualify when authorized to use stablecoins for specific business purposes.
In addition, market makers supporting stablecoin-baht liquidity management could also receive an exemption from the daily ceiling.
Public comments on the proposal remain open until September 25, 2026. The rules are not final yet and could change based on stakeholder feedback.