Thailand’s Securities and Exchange Commission has opened a public consultation on draft rules that would place new limits on stablecoin transfers at regulated digital asset businesses. The proposal is part of a broader effort to reduce the risk that digital assets are used for money laundering, cybercrime, or to bypass international money transfer controls.
Under the draft, individual customers would face a daily limit of 5 million baht, or about $147,750, on stablecoin withdrawals and deposits with each regulated operator in each direction. Comments on the proposal are being accepted until Nov. 26.
Daily cap for retail transfers
The draft notification would apply to individual customers using regulated digital asset operators in Thailand. It sets a cap of 5 million baht per day per operator on stablecoin withdrawals and the same amount on deposits, meaning the limit would apply separately to funds moving out and funds moving in.
The measure is aimed specifically at stablecoin activity rather than digital assets broadly, according to the summary of the consultation. Thai regulators are framing the restriction as a targeted control intended to reduce misuse while keeping activity within supervised venues.
Transfers limited to the same owner
A second core feature of the proposal would restrict where stablecoins can be sent. Transfers would only be allowed between accounts or wallets owned by the same person, blocking transactions that involve a wallet belonging to someone else.
That requirement would tighten movement of stablecoins between users and make it harder to use regulated platforms as a channel for passing funds to third parties. The SEC said the broader objective is to curb behavior linked to laundering, cyber-enabled crime, and the evasion of cross-border transfer rules.
Exemptions and added controls
The draft does not cover every type of transfer. Exemptions would include movements between a customer’s own accounts on SEC-supervised platforms, transactions carried out by operators for business purposes, and stablecoin activity by market makers.
Certain token-offering and refund-related transactions approved by the Bank of Thailand would also be carved out. Alongside the transfer restrictions, the proposal includes added compliance measures such as enhanced screening of market makers and disclosure of liquidity providers.
Consultation period now open
The SEC is seeking public feedback before deciding whether to move ahead with the notification. Interested parties have until Nov. 26 to submit comments on the draft.
For now, the proposal remains in consultation rather than in force. The next confirmed step is the close of the comment period, after which the regulator will be able to review responses and determine whether to finalize or revise the rules.
Source: www.theblock.co