Thailand Proposes Strict Stablecoin Regulation Limiting Transactions
The Thailand Securities and Exchange Commission (SEC) has proposed a new regulation draft for stablecoins that would impose significant restrictions on their deposit and withdrawal methods.
According to the draft, licensed crypto platforms will only allow customers to deposit stablecoins from their verified accounts or wallets, or withdraw them to their verified accounts or wallets. Transfers of stablecoins to other users' wallets through the platform will be explicitly prohibited.
The draft also sets a daily limit of 5 million Thai Baht ($150,000) for each user's stablecoin inflow and outflow on each platform, with inflow and outflow directions calculated separately. This proposal is currently in the public consultation phase until September 25.
If implemented, this regulation would effectively restrict stablecoin transfers to intra-account deposits and withdrawals, potentially weakening their practicality as payment and transfer tools within licensed channels.