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Thailand's SEC proposes $148,000 daily cap on stablecoin transfers

Thailand's Securities and Exchange Commission has proposed a draft notification capping daily stablecoin deposits and withdrawals at 5 million baht per customer on regulated platforms while restricting transfers to user-owned wallets.

Low-angle view of the exterior sign and building of the Securities and Exchange Commission of Thailand.
Image: @CoinDesk

Thailand's Securities and Exchange Commission has drafted rules to set a daily cap on stablecoin deposits and withdrawals to curb money laundering, according to reports from The Block and Cointelegraph. The proposed measure would limit transactions on regulated digital asset platforms to 5 million baht per customer per day, which equates to roughly $148,000 (or $147,754).[1][2][3][4][5]

Under the draft notification, the regulator plans to set separate daily limits for deposits and withdrawals. The proposal also introduces restrictions on third-party wallets by requiring same-owner wallet verification, mandating that stablecoin transfers occur strictly between accounts or wallets belonging to the same individual.[1][2][3][4]

The framework remains a regulatory proposal and has not yet been enacted into law. The Thai SEC is currently gathering feedback from the public, with the comment window open through November 26.[3][5]

Key facts

  • Thailand's SEC proposed a daily limit of 5 million baht (approximately $147,754 to $148,000) per customer for stablecoin transfers on regulated platforms.
  • The draft rules establish separate daily caps for stablecoin deposits and stablecoin withdrawals.
  • The proposal requires stablecoins to be transferred only between accounts or wallets owned by the same person, restricting third-party wallets.
  • The regulator is seeking the restrictions to curb money laundering.
  • The Thai SEC is accepting public comments on the draft notification until November 26.

Sources · 5 sources

  1. TB

    The BlockArticle ·

    Thailand seeks $148,000 daily cap on certain stablecoin transfers to curb money laundering The draft rules also require that stablecoins be transferred only between accounts or wallets belonging to the same person.

    Open source
  2. CT

    Coin TelegraphArticle ·

    Thailand proposes $148K daily cap on stablecoin deposits and withdrawals Thailand’s SEC would set separate daily caps for stablecoin deposits and withdrawals and require customers to use wallets they own.

    Open source
  3. CO

    CoinDesk@CoinDeskPost on X ·

    NEW: Thailand’s SEC proposes strict new stablecoin transfer rules, requiring same-owner wallet verification and capping transfers at 5M baht ($140K) daily, with a public comment period open until November 26. https://t.co/HgBnHwNXGl

    Open source
  4. CO

    Cointelegraph@CointelegraphPost on X ·

    🇹🇭 REGULATION: Thailand's SEC proposes $148K/day/customer stablecoin caps and third-party wallet restrictions. https://t.co/mcIl7vqQwY

    Open source
  5. TB

    The Block@TheBlockCoPost on X ·

    THE BLOCK: Thailand seeks to cap daily stablecoin deposits and withdrawals at 5 million baht ($147,754) per customer on a regulated digital asset platform to curb money laundering. The Thai SEC will accept public comments on the draft notification until Nov. 26. https://t.co/Le3Lbzq0Ui

    Open source