Thailand SEC Proposes $151,000 Daily Limit for Stablecoin Transfers: Who Will Be Affected?

The Thai SEC has proposed customer wallet verification for stablecoin transfers and a daily limit of approximately $151,000 for each direction.

The Securities and Exchange Commission (SEC) of Thailand has prepared new rules for stablecoin deposits and withdrawals conducted through regulated digital asset operators. The proposal, as reported by Wu Blockchain, stipulates that transfers should only be made between accounts or wallets verified as belonging to the customer.

Accordingly, a customer’s stablecoin transfer must originate from their own account or wallet registered with the operator and must go to the customer’s own verified account or wallet. Transfers to another person’s account or wallet will not be permitted.

A separate daily limit of approximately 5 million baht, or roughly $151,000, will apply to both incoming and outgoing transactions. The limit will be calculated on a per-person and per-digital asset operator basis. Thus, the same customer may encounter separate limits for both deposits and withdrawals through the same operator within a single day.

Transfers between Thai-licensed operators complying with the Travel Rule will not be subject to the limit

The proposal exempts stablecoin transfers between Thai-licensed digital asset operators that comply with the Travel Rule from the daily limit. The Travel Rule refers to regulations requiring the sharing of sender and recipient information during a transfer.

The SEC explained the primary objective of the regulation as mitigating risks associated with money laundering, cybercrimes, and the circumvention of cross-border money transfer rules. The proposal does not yet have the status of an effective rule; the agency is currently gathering feedback on the regulation.