Thailand SEC Proposes Stablecoin Transfer Caps and Verification Requirements
The Thai Securities and Exchange Commission (SEC) has proposed new regulations on stablecoin transfers to combat money laundering, cybercrime, and bypassing international payment rules. The proposals aim to limit daily stablecoin transfer caps at 5 million baht ($150,000), with separate limits for inbound and outbound transactions. This cap would apply separately to deposits and withdrawals.
The SEC also requires digital asset operators to verify customer accounts and wallets, ensuring they belong to the same individual. Transfers between accounts or wallets verified as belonging to the same person are allowed, while transfers into an exchange account from another person's wallet or withdrawals to another person's wallet are prohibited.
Regulators have identified a significant increase in stablecoin transactions, particularly involving Tether's USDT, which poses risks related to money laundering and cybercrime. The SEC is considering tighter rules for off-platform transactions conducted by digital asset brokers and dealers, including minimum transaction sizes of 3 million baht and publicly disclosing transaction pricing.
The consultation on the proposals opened on September 11 and runs until September 25, 2026. If adopted, these measures would represent one of Thailand's most direct attempts to constrain stablecoin movement between regulated platforms and external wallets while preserving higher-volume transfers within the country's supervised digital asset ecosystem.