Thai SEC Slams Brakes on Stablecoin Transfers with $150K Daily Cap

Thailand's Securities and Exchange Commission (SEC) is proposing stricter rules for stablecoin transfers through licensed crypto platforms, including a $150K daily limit on transactions.

The SEC aims to prevent money laundering, illegal transfers, and attempts to bypass international money transfer rules by requiring users to send or receive stablecoins between verified wallets belonging to the same person.

Users would be limited to transferring 5 million Thai baht ($151,000) per day through licensed platforms, with actual limits potentially depending on a user's verified income and financial status.

The new rules also exempt registered market makers, Bank of Thailand-approved operators, and some platform-to-platform transfers that follow the required Travel Rule standards.