Thailand’s Securities and Exchange Commission (SEC) is seeking public comments on a draft regulation that would impose a daily cap of 5 million baht (approximately $148,000) on certain inbound and outbound stablecoin transfers to prevent money laundering, cybercrime, and the circumvention of international money transfer rules, according to a regulator press release.
Under the proposed framework, the 5-million-baht daily limit applies per customer, per digital asset operator, and transaction values must align with the user’s income source and financial position. However, the cap excludes transfers between a customer’s own accounts held across SEC-supervised operators adhering to the Travel Rule, as well as transactions involving approved Bank of Thailand business operations, liquidity-providing market makers, and authorized initial coin offering subscriptions or refunds.
Beyond transfer limits, the draft rules mandate strict wallet verification. Customers will only be permitted to send or receive stablecoins through external accounts or digital wallets verified as belonging to themselves, effectively banning third-party transfers. Operators must also enforce Travel Rule compliance and deploy blockchain analytics tools to screen out mule accounts and watchlisted wallets.
To bolster market transparency, digital asset exchanges will be required to publicly disclose the names of their market makers and monitor the origins of their funds. Meanwhile, digital asset brokers will be barred from using liquidity providers for stablecoin-Thai baht trading pairs and must ensure all liquidity providers and source exchanges operate under recognized anti-money laundering oversight outside of Financial Action Task Force high-risk jurisdictions.
For off-platform transactions conducted by brokers and dealers, the SEC plans to enforce a minimum transaction threshold of 3 million baht, mandate public price disclosures, and prohibit brokers from matching off-platform trades directly between customers. The regulator will also gain explicit authority to order operators to rectify any failures in information collection or reporting within a specified timeframe.
The consultation paper is available on the SEC website and Thailand’s Legal Hub, with the public comment period closing on November 26, 2026.
