Thailand’s Securities and Exchange Commission (SEC) has announced plans to introduce a daily limit of 5 million baht, equivalent to approximately $148,000, for deposits and withdrawals of stablecoins per customer on each licensed cryptocurrency platform. The initiative aims to prevent money laundering and bolster the integrity of digital asset markets, and the SEC will accept public comments on the proposal until November 26.
Details of proposed stablecoin limits
The proposed measure would separately cap both daily deposits and withdrawals to 5 million baht on each licensed crypto exchange. Customers holding accounts at multiple Thai platforms would receive a separate daily limit per platform, effectively expanding the total limit for users active on several regulated exchanges.
Transfers between a user’s own accounts across two licensed platforms would not count toward the daily limits, provided both exchanges comply with the Travel Rule. This regulation requires platforms to share sender and recipient information, enhancing transparency for cross-platform transfers.
Mini dictionary: Travel Rule, a compliance requirement that obliges cryptocurrency platforms to collect and transmit personal information about the originator and beneficiary of digital asset transfers, designed to prevent illicit activity such as money laundering.
Reports from Stablecoin Insider indicate that these restrictions would mostly influence users transferring stablecoins from licensed Thai exchanges to foreign platforms or self-hosted wallets.
Transfers to foreign exchanges and personal wallets outside Thailand would become subject to strict daily limits under the new SEC guidelines, while movements within a user’s own local accounts remain unrestricted as long as all platforms meet regulatory compliance.
Restrictions on wallet usage and customer verification
Under the plan, only wallets or accounts directly owned and verified by customers can be used for stablecoin transfers. Users would not be permitted to send or receive funds on behalf of others, aiming to curb the risk of anonymous or third-party transactions.
Licensed crypto platforms would be responsible for conducting thorough customer verification, monitoring fund flows, and identifying suspicious or illegal activity. This includes tracking and flagging accounts linked to criminal payments and employing blockchain analysis tools to monitor potentially illicit wallet activity.
The SEC also wants to ensure that customer crypto transactions do not exceed what a customer’s income and financial standing would reasonably allow.
Direct peer-to-peer crypto transfers that do not use a licensed platform would fall outside the scope of the new regulation.
Market maker and broker requirements
The new framework would also revise the operational rules for crypto exchanges and brokers. Licensed exchanges must publicly disclose the market makers they engage with, as well as provide information on which cryptocurrencies are available for trading.
Market makers, who are entities that facilitate liquidity by continuously buying and selling digital assets, play an essential role in keeping markets active. Under the SEC’s proposal, brokers would be banned from relying on third-party entities for converting between stablecoins and the Thai baht, aiming for greater transparency and oversight.
Brokered or dealer-organized trades performed outside official exchanges would require a minimum transaction size of 3 million baht, or around $88,500, and public disclosure of their prices.
| Transaction type | New daily limit | Exceptions |
|---|---|---|
| Deposits/Withdrawals to external wallets | 5 million baht per day, per platform | Excludes transfers between user’s own accounts on licensed platforms |
| Broker-organized OTC trades | Minimum 3 million baht per trade | Prices must be publicly disclosed |
| ICO payments/refunds on SEC-approved platforms | No daily limit | Exempt from cap |
The policy would exempt certain transactions from the daily ceiling. Business-related company transfers, market maker activities, and payments or refunds for new token sales conducted on SEC-approved ICO platforms would not be subject to these limits. Additional exceptions may be made for specific cases approved by the Bank of Thailand.
Amendments build on prior consultations
The SEC initially sought public feedback on these rules on September 11, 2026. The latest revision maintains the core structure but specifically adds that purchases and refunds involving ICO platforms authorized by the regulator are exempt from the daily cap. This adjustment aims to encourage legitimate innovation and token launches without unnecessary restrictions.
The SEC stated that these measures are intended to counter money laundering, prevent online financial crimes, and restrict illicit cross-border capital flows. Thai authorities have already been actively tracking unusual Tether (USDT) transactions with advanced analytics in response to such threats.
The SEC has scheduled implementation of the new limits to begin 60 days following the final regulatory announcement.
