Thailand SEC Proposes Daily Cap on Stablecoin Transfers at $151,000
Thailand's Securities and Exchange Commission (SEC) has proposed new regulations that would impose a daily limit of 5 million baht, approximately $151,000, on stablecoin transfers per licensed digital asset operator. This initiative, approved on September 3, aims to enhance regulatory oversight and prevent the evasion of banking disclosures associated with stablecoin transactions.
Under the proposed rules, all stablecoin transfers must be conducted through wallets or accounts that have been verified as belonging to the customer, effectively prohibiting third-party transfers. The transfer limits will be tailored to each customer's verified income and financial status, while transactions between compliant Thai operators that adhere to the Travel Rule will be exempt from these restrictions. Additionally, certain business transfers authorized by the Bank of Thailand will also be excluded from the cap.
The SEC's move comes in response to concerns raised by the Bank of Thailand regarding unusual trading volumes involving Tether's USDT, which were suspected of being used to bypass standard banking disclosure requirements. The proposed regulations are seen as a precursor to the implementation of the Travel Rule for digital assets, set to take effect on February 27, 2027, which will require operators to share detailed transaction information. The consultation period for the proposed rules will conclude on September 25, 2026, before any final decisions are made.
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Source: KLEA News