Thailand SEC Proposes Ban On Third-Party Stablecoin Transfers With $150K Daily Cap
Thailand’s Securities and Exchange Commission (SEC) has opened a public consultation on new stablecoin regulation, proposing strict limits on stablecoin transfers through regulated digital asset operators. Under the draft principles, stablecoin deposits and withdrawals would only be permitted between accounts or wallets verified as belonging to the same customer, effectively banning transfers from or to other people’s wallets. The consultation remains open until September 25, 2026, after which the final rules will be confirmed.
The proposal establishes a daily transfer limit of 5 million Thai baht—approximately $150,000—per person, per operator, applicable separately to inbound and outbound transfers. The cap is designed to ensure that transfer values remain consistent with customers’ declared income and financial standing. However, the limit would not apply to transfers between customers of Thai-regulated operators that both comply with the Travel Rule, nor to certain business customers, including licensed operators, market makers handling stablecoin/Thai baht pairs, and operators regulated by the Bank of Thailand that have received specific approval to use stablecoins in their business operations.
Broader Measures Target Money Laundering, Off-Platform Trading and Liquidity Providers
Beyond the transfer restrictions, the SEC’s framework addresses several related areas of digital asset oversight. Customer wallets at both ends of a transaction would need to meet Travel Rule requirements, including customer classification, screening against mule accounts and wallets linked to illegal activity, and the use of blockchain analytics tools to trace asset movements and identify connections to flagged or watchlisted wallets. The regulator stated that these measures aim to reduce risks associated with money laundering, cybercrime, and the circumvention of cross-border fund transfer rules.
The consultation also introduces rules for off-platform transactions conducted by digital asset brokers and dealers. Such transactions would require a minimum value of 3 million baht, with trading prices disclosed publicly on the operator’s website or platform to improve transparency and price verification. Brokers would be prohibited from conducting off-platform transactions directly between customers, though they may act as intermediaries routing customer orders through a licensed digital asset exchange.
Further provisions tighten oversight of market makers and liquidity providers. Exchanges would be required to publish the names of market makers and the digital assets for which they provide liquidity, alongside enhanced screening and ongoing monitoring of their behavior to establish the origins of assets and the true purpose of their transactions. For brokers, liquidity providers would be banned for stablecoin/baht trading pairs and must not be based in jurisdictions lacking Financial Action Task Force-compliant anti-money laundering measures. Brokers must also disclose their liquidity providers and any conflicts of interest to customers.
Finally, the principles strengthen the SEC’s supervisory powers, allowing the regulator to order operators that fail to properly collect and report required information to rectify the situation within a specified period, and to take additional action if compliance is not achieved.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
