Thailand’s securities regulator announced a draft rule limiting stablecoin deposits and withdrawals to 5 million baht per customer per day at regulated operators.
Thailand’s Securities and Exchange Commission (SEC) released a draft proposal that would cap daily stablecoin deposits and withdrawals at 5 million baht per customer at regulated crypto operators. The limits would apply separately to deposits and withdrawals, and the regulator said the measures aim to curb money laundering, cybercrime and attempts to bypass cross‑border money‑transfer rules.
Under the draft, customers must use wallets they personally control, and operators will be required to verify that the wallet addresses belong to the account holder before allowing any stablecoin transfer. The SEC also plans to bar transfers to or from third‑party wallets, tightening control over who can move stablecoins on the platform.
The proposal mandates that crypto exchanges comply with the Travel Rule, meaning they must collect and share transaction information with relevant authorities. Operators would also need to employ blockchain analytics tools to flag wallets linked to suspicious activity. Additionally, exchanges must disclose the identities of market makers providing liquidity for stablecoin‑baht pairs.
Crypto brokers would be prohibited from using liquidity providers for stablecoin‑baht pairs, and any off‑platform trades involving stablecoins would be subject to a minimum transaction size of 3 million baht. The draft follows a September consultation that initially suggested transfer limits and tighter oversight of crypto service providers.
The SEC has opened a public comment period on the draft, and the final rules are expected to be published later this year. Stakeholders will be watching for the regulator’s stance on enforcement timelines, potential penalties for non‑compliance, and whether the caps will be adjusted in response to industry feedback.
The draft sets a limit of 5 million baht (approximately $148,000) per customer for both deposits and withdrawals each day.
Crypto operators are required to confirm that the wallet used for a transaction belongs to the account holder before processing stablecoin transfers.
The SEC plans to finalize the regulations later in 2026 after the public comment period, though exact implementation dates have not been announced.
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