- Thailand’s SEC proposes a daily stablecoin transfer limit of 5 million Thai baht per customer at each regulated digital asset operator.
- Transfers between a customer’s own accounts at two SEC-supervised operators would be exempt if both operators comply with the Travel Rule.
- Brokers and dealers handling off-platform transactions would face a minimum threshold of 3 million baht and expanded price-disclosure requirements.
Thailand SEC Proposes 5 Million Baht Daily Stablecoin Transfer Limit
Thailand’s Securities and Exchange Commission (SEC) has incorporated new stablecoin controls into its latest draft regulations and is seeking further public comments until 26 November. One of the central proposals is a daily transfer limit of 5 million Thai baht per customer at each regulated digital asset operator.
The proposed cap would apply separately to incoming and outgoing stablecoin transfers. However, transaction values would also need to be consistent with each customer’s declared income and financial position. This requirement is intended to ensure that stablecoin activity aligns with a customer’s known financial circumstances.
Transfers between a customer’s own accounts at two SEC-supervised operators would be exempt from the limit, provided that both operators comply with the Travel Rule. The exemption would allow transfers between verified accounts while retaining information-sharing and transaction-monitoring requirements between regulated platforms.
SEC Plans Stronger Stablecoin Wallet Verification
The SEC also plans to strengthen wallet ownership verification for stablecoin transactions. Customers would be permitted to deposit stablecoins from their own verified wallets and withdraw stablecoins to wallets registered in their names.
Under the proposal, digital asset operators would also have to comply with the Travel Rule, analyze customers, identify suspicious accounts, and monitor transactions connected to high-risk wallets. These measures are designed to make it more difficult for criminals to move illicit funds through regulated digital asset platforms in Thailand.
Additional Rules for Exchanges, Brokers, and Dealers
The draft introduces stricter responsibilities for exchanges and brokers. Exchanges would be required to publicly disclose their market makers and identify the digital assets for which those market makers provide liquidity.
Brokers would be prohibited from using liquidity providers for stablecoin-to-Thai baht trading pairs. Brokers and dealers offering off-platform transactions would also face a minimum transaction threshold of 3 million baht and would be required to publish trading prices to improve transparency.
In addition, brokers would no longer be permitted to arrange off-platform trades directly between customers. Together, the proposed requirements would give the SEC greater oversight of stablecoin transactions, liquidity arrangements, wallet ownership, and potentially suspicious activity across Thailand’s regulated digital asset market.
Why This Matters
The proposals would introduce tighter controls around how stablecoins move through Thailand’s regulated digital asset operators. The 5 million baht daily limit, wallet verification requirements, Travel Rule compliance, and monitoring of high-risk wallets are aimed at reducing the risk of illicit funds moving through regulated platforms.
The changes would also increase transparency in digital asset trading by requiring exchanges to disclose market makers and brokers and dealers to publish prices for qualifying off-platform transactions. The SEC is continuing to collect public comments until 26 November before moving forward with the draft regulatory framework.
Frequently Asked Questions
What is the proposed daily stablecoin transfer limit in Thailand?
The SEC proposes a daily limit of 5 million Thai baht per customer at each regulated digital asset operator. Incoming and outgoing stablecoin transfers would be calculated separately, and transaction values would need to match the customer’s declared income and financial position.
Are transfers between a customer’s own accounts exempt?
Yes. Transfers between a customer’s own accounts at two SEC-supervised operators would be exempt from the limit if both operators comply with the Travel Rule.
What rules would apply to off-platform transactions?
Brokers and dealers offering off-platform transactions would face a minimum threshold of 3 million baht and would have to publish trading prices. Brokers would also be prohibited from arranging off-platform trades directly between customers.
