Thailand’s SEC proposes a 5M baht daily stablecoin transfer cap per customer and regulated operator, with wallet ownership checks. Stablecoin deposits and withdrawals would need to use custom
Thailand’s SEC has proposed stablecoin transfer rules in Thailand, including a 5 million baht daily cap. The rules would require regulated operators to send deposits and withdrawals through customer-owned accounts or wallets. The SEC opened public comments in September 2026 to address money laundering, cybercrime and cross-border transfer rule breaches.
https://twitter.com/WuBlockchain/status/2098948026496872954?s=20Stablecoins entering an operator must come from the customer’s account or wallet. Withdrawals must also go to that customer’s account or wallet. Transfers involving another person’s account or wallet would be prohibited.
Both accounts or wallets must meet Travel Rule requirements. Operators would screen customer data and check risky wallets or watchlists. Notably, each customer could transfer up to 5 million baht daily per operator. However, the cap would not apply between Thai operators using the Travel Rule.
The limit would exclude businesses using stablecoins through their own accounts. It would also exclude Bank of Thailand-supervised businesses with case-by-case approval. Market makers for stablecoin-baht pairs would qualify for exceptions.
The SEC also proposed rules for brokers and dealers handling off-platform transactions. These transactions would require a minimum value of 3 million baht. Brokers and dealers would need to publish digital asset trading prices.
However, brokers could not conduct off-platform trades directly between clients. They could still match clients through exchanges as brokers or agents. The proposal also covers market makers and liquidity providers. Exchanges would publish their market makers and supported digital assets.
For brokers, liquidity providers could not handle stablecoin-baht transactions. They would need to operate in jurisdictions applying FATF measures and regulatory oversight. Brokers would disclose liquidity provider names and conflicts of interest.
The SEC would tighten source exchange rules. Source exchanges must face regulatory supervision and screening against money laundering and technology-related crime.
Finally, operators must provide complete information when the SEC requests it. The SEC could set correction deadlines for noncompliance. Failure could lead to orders requiring or restricting specific actions.
