Thailand's Securities and Exchange Commission approved consultation principles that would cap daily stablecoin transfers at 5 million baht ($150,000) through licensed crypto platforms, with transfers only allowed to accounts verified as the customer's own.
South Africa's draft Crypto Assets Manual proposes banning corporate cross-border stablecoin transactions and treating transfers to self-custody wallets as capital outflows, prompting warnings from industry leaders like VALR CEO Farzam Ehsani that the rules could drive crypto activity offshore and reduce regulatory oversight.
The BIS published research finding that USD-pegged stablecoins like USDT and USDC are largely unaffected by capital controls across 130+ economies, creating new channels for digital dollarization that challenge traditional monetary policy tools in emerging markets.
