Thailand proposes $148,000 daily cap on stablecoin transfers to curb money laundering

Thailand’s Securities and Exchange Commission has proposed a daily limit of 5 million baht (around $148,000) on stablecoin deposits and withdrawals per operator to combat money laundering and cybercrime. The draft regulation bans third-party transfers, requires operators to enforce the Travel Rule, and mandates blockchain tracking. Additionally, exchanges must disclose market makers, while brokers face restrictions on baht-stablecoin liquidity providers. Public feedback runs through November 26, 2026.

Stablecoin transfer cap details

• ▪Stablecoin Insider said Thailand SEC's proposed 5 million baht daily stablecoin transfer limits will mainly affect users moving stablecoins from licensed Thai platforms to foreign exchanges or self-controlled wallets
• ▪Thailand's SEC proposed a daily 5 million baht cap applying separately to stablecoin deposits and withdrawals per customer per licensed operator

Exemptions to daily transfer limits

• ▪Direct peer-to-peer on-chain stablecoin transactions conducted outside of licensed digital asset platforms are excluded from Thailand SEC's proposed 5 million baht daily stablecoin transfer cap
• ▪Thailand SEC's proposed 5 million baht daily stablecoin transfer limits exempt transfers between a customer's own accounts across licensed platforms, operator business transfers, market maker activities, initial coin offering platform payments, and Bank of Thailand approved transactions

Compliance requirements for crypto operators

• ▪Thailand's Securities and Exchange Commission draft rules mandate that stablecoin deposits and withdrawals occur exclusively between accounts or wallets owned by the same customer, explicitly prohibiting third-party transfers
• ▪Licensed digital asset operators in Thailand must comply with the Travel Rule, conduct customer profiling to ensure transfer amounts match financial standing, and use blockchain analytics tools to identify links to high-risk wallets

Trading and liquidity provider restrictions

• ▪Under the draft regulations, digital asset brokers in Thailand are prohibited from using external liquidity providers for stablecoin-to-Thai baht trading pairs
• ▪Thailand's Securities and Exchange Commission draft rules require licensed crypto exchanges to disclose the identity of their market makers and the specific digital assets for which those market makers supply liquidity
• ▪Thailand SEC's proposed stablecoin transfer regulations subject off-exchange trades arranged by crypto brokers and dealers to a minimum threshold of 3 million baht (approximately $88,500) and require public disclosure of execution prices

Public consultation schedule

• ▪Stablecoin Insider said Thailand's Securities and Exchange Commission previously solicited public input on the stablecoin regulation framework on September 11, 2026
• ▪Thailand's Securities and Exchange Commission opened a public consultation on the draft stablecoin transfer rules with comments accepted through November 26, 2026