Thailand SEC Proposes $150K Daily Stablecoin Transfer Cap for Licensed Platforms
Thailand’s Securities and Exchange Commission has approved plans to impose a daily limit of 5 million Thai baht, roughly $150,000, on stablecoin transfers made through licensed digital asset platforms, according to Coinpedia. The proposal, which applies to transfers in each direction, is part of a broader effort to tighten oversight of stablecoins such as USDT and USDC.
Key facts
- The proposed daily cap is 5 million baht (about $150,000) per person, per platform, per day in each direction.
- Transfers would be restricted to wallets verified as belonging to the same person, preventing direct sends to third-party wallets.
- Registered market makers, Bank of Thailand-approved operators, and certain platform-to-platform transfers could be exempt if they follow Travel Rule standards.
- The public consultation is open until September 25, 2026, and the rules are not yet in effect.
- Off-platform trades must be at least 3 million baht, with prices publicly displayed, and brokers cannot directly arrange trades between clients outside the platform.
Scope of the proposed restrictions
The Thai SEC’s plan focuses on stablecoin transfers that flow through regulated crypto exchanges and platforms. Under the proposal, users would only be able to send or receive stablecoins between wallets they own and have verified. Sending stablecoins directly to a friend, family member, or merchant via an exchange would not be permitted.
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The daily cap of 5 million baht per person, per platform, per day could also be adjusted based on a user’s verified income and overall financial status, meaning the actual limit may vary from person to person.
Exemptions and off-platform trading rules
Certain entities and transaction types would be carved out from the transfer limit. Registered market makers and operators approved by the Bank of Thailand could be exempt. Additionally, some transfers between platforms would avoid the cap if both sides comply with the Travel Rule, which requires the collection and sharing of sender and recipient information.
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For trades conducted off-platform, the SEC proposes that transactions must be worth at least 3 million baht, prices must be publicly shown, and brokers cannot directly match trades between their clients outside the platform environment.
Regulatory backdrop and industry response
The proposal follows a warning from the Bank of Thailand about unusually high volumes of USDT transactions that could be linked to illegal activity or attempts to bypass international money transfer rules. SEC Secretary General Pornanong Budsaratragoon stated that the commission is committed to supervising the capital market and digital asset market in a way that keeps pace with developments and risks.
As part of the tighter framework, the SEC also wants platforms to verify wallet ownership, identify potential mule accounts, and use blockchain-tracking tools to flag links to risky or watchlisted wallets.
Why it matters
Thailand’s proposal signals a shift toward stricter oversight of stablecoin flows through regulated channels, which could affect how individuals and businesses move digital dollars in and out of the country. Similar to rules seen in other jurisdictions, the measures aim to align with global anti-money laundering standards and the Financial Action Task Force’s Travel Rule. For everyday users of Thai exchanges, the same-owner wallet restriction could limit the use of stablecoins for peer-to-peer payments or remittances through platforms. Market makers and institutional players may face fewer changes if they meet the exemption criteria, potentially creating a two-tier system for digital asset transfers.
What to watch
The public consultation period closes on September 25, 2026, after which the SEC will review feedback and decide whether to implement the rules as proposed. Separately, Thailand’s Travel Rule for digital assets is scheduled to take effect on February 27, 2027, requiring operators to collect and retain transaction data for at least five years. Market participants and observers should monitor the SEC’s final ruling and any adjustments to the exemptions or limits based on consultation responses.
Reported by coinpedia.org.
