The Thailand Securities and Exchange Commission has proposed a daily stablecoin transfer limit of 5 million baht ($151,000) and a strict same-owner wallet verification rule for licensed platforms. The proposal, open for public comment until September 25, 2026, aims to curb money laundering and illicit transfers after the Bank of Thailand flagged abnormal USDT volumes. Exemptions will apply to Travel Rule-compliant transfers and authorized market makers.
Thailand SEC stablecoin transfer restrictions
- ▪The Thailand Securities and Exchange Commission approved consultation principles on September 3, 2026, to tighten rules for stablecoin transfers through licensed digital asset platforms
- ▪The Thailand Securities and Exchange Commission proposed a daily stablecoin transfer cap of 5 million Thai baht, approximately $151,000, per person, per platform, in each direction
- ▪The proposed stablecoin transfer limits would be calibrated based on a user's verified income and financial status
Bank of Thailand USDT concerns
- ▪The Bank of Thailand expressed concern that stablecoin transfers were being used to bypass normal banking disclosure requirements, evade international transfer rules, or fund illegal activities
- ▪In July 2026, the Bank of Thailand flagged highly abnormal transaction volumes involving Tether's USDT stablecoin
Same-owner wallet verification requirement
- ▪The Thailand Securities and Exchange Commission proposed a same-owner requirement prohibiting users from sending or receiving stablecoins to or from third-party wallets through licensed platforms
- ▪Under the proposed same-owner rule, stablecoin deposits and withdrawals at licensed Thai crypto platforms must exclusively involve wallets verified as belonging to that specific customer
Daily transfer cap exemptions
- ▪The proposed 5 million baht daily stablecoin transfer cap would not apply to transfers between customer accounts at SEC-supervised operators when both firms comply with the Travel Rule
- ▪Exemptions from the proposed stablecoin transfer limits would also apply to registered market makers, Bank of Thailand-approved operators, and specified operator business transfers
Public consultation period
- ▪The Thailand Securities and Exchange Commission opened the public consultation on the proposed stablecoin rules on September 11, 2026, with comments due by September 25, 2026
- ▪The proposed stablecoin transfer restrictions remain at the consultation stage and are not yet operative rules
Travel Rule implementation timeline
- ▪Thailand's finalized Travel Rule for digital assets is scheduled to take effect on February 27, 2027
- ▪The finalized Travel Rule will require digital asset operators to collect and retain transaction information for at least five years and verify ownership of self-hosted wallets
Debatable claims
- ▪Thailand's proposed daily cap on stablecoin transfers is necessary to prevent financial crime
- ▪Thailand should ban licensed crypto platforms from facilitating third-party stablecoin transfers
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