Thailand Proposes $151K Stablecoin Transfer Cap Amid Money Laundering Concerns

Thailand's Securities and Exchange Commission (SEC) has proposed new rules to limit inbound and outbound stablecoin transfers involving external wallets. The proposal, which is open for public comment until September 25, aims to address money laundering, cybercrime, and attempts to bypass controls governing international money transfers.

The proposed daily transfer cap would be set at five million baht (approximately $151,000) per customer and operator, with restrictions on deposits and withdrawals to accounts or wallets verified as belonging to customers. Transfers between compliant Thai-regulated operators would remain exempt from the proposed daily transfer ceiling.

Businesses, authorized institutions, and qualifying market makers would receive exemptions under the regulator's proposed framework. The SEC said it opened the consultation to address concerns related to money laundering and cybercrime.

The proposal also includes new standards for off-platform transactions handled by digital asset brokers and dealers, requiring a minimum value of three million baht (approximately $91,000) and price disclosure rules.