Thai SEC Targets Stablecoin Transfers with Daily Limit and Verification Rules
Thailand's Securities and Exchange Commission (SEC) has proposed new rules to regulate stablecoin transfers. The proposal includes a daily limit of 5 million baht, or approximately $151,000, on external stablecoin transfers involving licensed digital asset operators.
The SEC aims to reduce money laundering, cybercrime, and circumvention of international transfer controls through these measures. The proposed framework would require customers to transfer up to the daily limit through each licensed operator, with separate limits for inbound and outbound transfers.
Operators would also need to verify that the source and destination wallets belong to the same customer, prohibiting transfers involving another person's account or wallet. This requirement operates alongside Travel Rule requirements, which involve screening customer information and monitoring blockchain activity.