Thailand Caps Daily Stablecoin Transfers at $151,000
Thailand's Securities and Exchange Commission (SEC) is proposing to cap stablecoin transfers at 5 million baht ($151,000) per day through licensed digital asset platforms. This move aims to curb money laundering and cross-border evasion, particularly involving the dominant stablecoin Tether (USDT). The proposal targets deposits or withdrawals of stablecoins at SEC-supervised operators.
According to the draft framework, incoming transfers must originate from verified customer accounts, while outgoing transfers must go to destinations under the same customer's name. Sending stablecoins from another person's wallet into an exchange account or withdrawing to a third party's wallet would be prohibited.
The regulator developed these measures with the Bank of Thailand and digital asset operators. The proposal is part of broader efforts to close channels used for illicit activities, following strong growth in stablecoin activity and transaction patterns that may carry money laundering, cybercrime, and transfer-rule circumvention risks.