Thailand's securities regulator has proposed daily caps of 5 million baht on stablecoin deposits and withdrawals. The draft also requires transfers to involve customers' own verified wallets. Public comments are open until Nov. 26, 2026.
Thailand's Securities and Exchange Commission proposed separate daily caps of 5 million baht on stablecoin deposits and withdrawals per customer at each regulated crypto operator. The draft also calls for checks that transfers involve customers' own verified wallets.
The SEC said in its Nov. 12 announcement that the draft seeks to prevent money laundering, cybercrime and the use of digital assets to bypass international money transfer rules. Inbound and outbound transfers would be counted separately, and transfer values would still need to match the customer's income and financial position.
Exemptions cover transfers between a customer's own accounts
Customers moving stablecoins between their own accounts at SEC-supervised operators would be exempt from the daily limit, provided both firms comply with the Travel Rule. Separate exemptions would cover digital asset operators transferring stablecoins for business purposes through accounts in their own names.
Businesses supervised by the Bank of Thailand with specific approval to use stablecoins would also qualify. So would market makers handling stablecoin-baht trading pairs, including transfers needed to provide liquidity.
Operators must verify wallet ownership
For deposits, operators would have to verify that the sending account or wallet belongs to the customer receiving the funds. Withdrawals would have to reach a wallet verified as belonging to that same customer. Sending funds to another person's wallet, or receiving them from one through an operator, would be prohibited.
Operators would also use blockchain analytics to trace asset movements and detect connections with high-risk or watchlisted wallets.
Exchanges and brokers face liquidity checks
Exchanges would have to publish market makers' names and identify the assets for which they provide liquidity. Brokers, by contrast, would be prohibited from using liquidity providers for stablecoin-baht pairs.
For brokers and dealers offering off-platform services, the proposed minimum transaction size is 3 million baht. Firms would publish trading prices on their websites or platforms so customers can check them.
Interested parties can submit comments through the SEC website, Thailand's Legal Hub, or the designated consultation email addresses until Nov. 26.
Source: crypto.news
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