Thailand Proposes Daily Stablecoin Transfer Cap to Curb Laundering

Thailand’s Securities and Exchange Commission has proposed limiting stablecoin transfers through regulated digital asset operators to 5 million baht, roughly $148,000, per customer per day. The cap would apply separately to inbound and outbound transfers and forms part of a draft framework targeting money laundering, cybercrime and circumvention of international transfer rules. The proposal would place new transaction limits around stablecoins while tightening wallet verification requirements.

Under the draft, stablecoins could generally only move between accounts or wallets verified as belonging to the same customer. Operators would also need to apply Travel Rule requirements, customer profiling, screening and blockchain analytics. Several exemptions would apply, including certain transfers between regulated operators, approved Bank of Thailand business use cases, qualifying market makers and transactions connected to SEC-approved digital token offerings.

The proposal also introduces tighter oversight of market makers, liquidity providers, source exchanges and off-platform transactions. Brokers using off-platform transactions would face a minimum transaction size of 3 million baht and additional transparency requirements. The next milestone is the end of the public consultation on November 26, after which the SEC may revise the draft before adopting final rules.

Source: Thailand Securities and Exchange Commission.

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