The Securities and Exchange Commission (SEC) of Thailand has proposed new rules limiting daily stablecoin transaction volumes. The regulator is seeking a maximum transfer limit of 5 million baht, equivalent to $151,000 (around Rp2.4 billion), per customer for each crypto asset platform operator within a 24-hour period. This threshold specifically applies to transactions involving external wallets. The quota is not cumulative; inbound and outbound transfers are each subject to an independent 5 million baht cap.
The most restrictive aspect of the proposed regulation lies in the identity verification requirements for senders and recipients. The Thai SEC establishes a strict condition that stablecoins may only be deposited from, or withdrawn to, verified accounts under the customer’s own name. This proposal effectively bans all transfers to or from third-party crypto wallets. Peer-to-peer fund transfers via stablecoins, which typically operate frictionlessly, would be completely closed off for users on licensed platforms in the country.
Extra Verification for Foreign and Personal Wallets
The supervisory scope of the proposed regulatory framework is designed to extend beyond domestic exchange platforms. The SEC stated that these oversight measures also encompass transfers involving foreign digital asset operators and flows into personal (unhosted) wallets. To implement this plan, operators serving customers must shoulder the responsibility of multi-layered screening before approving transfer requests.
Platform operators are required to verify the ownership of both destination and source wallets before processing any transaction. This new obligation will operate in tandem with Travel Rule compliance, which already mandates the exchange of customer identity information between financial institutions. Furthermore, the SEC mandates the use of blockchain analytics tools, or equivalent monitoring systems, to map and trace digital asset movements across public networks.
Why Are Rules Being Tightened?
The implementation of verification requirements and value caps is driven by specific objectives. Thai financial regulators position this framework as a tool to tackle three major issues: money laundering, cybercrime, and efforts to evade international capital transfer controls. The seamless cross-border capabilities offered by stablecoins have often been exploited to bypass otherwise stringent foreign exchange and banking oversight.
At present, the draft for daily digital asset transfer limits remains in the public consultation phase with various stakeholders. The draft regulation has not yet been enacted into binding law. However, if approved, the measure will reshape how retail customers and platform operators move crypto assets across Thai borders. Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
