Thailand Caps Daily Stablecoin Transfers at $151K Amid USDT Trading Concerns

Thailand's Securities and Exchange Commission has proposed a daily cap on stablecoin transfers at 5 million baht, or approximately $151,000 per licensed digital asset operator. This move is in response to concerns raised by the Bank of Thailand about abnormal trading volumes involving Tether's USDT.

The proposed framework would require all inbound and outbound stablecoin transfers to be made directly between verified customer wallets or accounts, prohibiting third-party transfers altogether. Transactions between Thai-supervised operators that comply with the Travel Rule would be exempt from these transfer restrictions.

Additionally, business transfers conducted by operators authorized by the Bank of Thailand would also be exempt. The income-verification requirement would introduce an extra layer of Know Your Customer (KYC) checks on top of existing exchange-level identity verifications.

The consultation period for this proposal will run until September 25, 2026. This move is seen as a precursor to the implementation of Thailand's Travel Rule for digital assets, which aims to share originator and beneficiary information for transactions.