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FollowingThe Securities and Exchange Commission of Thailand has opened consultations on new regulations for stablecoins: Proposed daily transfer caps to strengthen supervision
The Securities and Exchange Commission of Thailand (SEC) recently opened a public consultation process on new stablecoins regulatory regulations. As part of strengthening regulation of digital asset payments, the proposal proposes setting a daily transfer cap of approximately $151,000 for individuals. The move aims to ensure that deposits and withdrawals are made only through verified accounts, thereby reducing financial risks associated with money laundering and cybercrime.
Core content of the proposal
Under the proposed rules, each person will face a one-way daily transfer limit of approximately US$151,000. The cap is designed to mitigate risks associated with illegal activity, while allowing compliant businesses and daily users to move funds freely. The consultation is the latest signal that Thai regulators are seeking to develop formal regulations for stablecoins in the context of growing use of payments, and provides markets with a clearer picture of how the country regulates this rapidly expanding asset class.
Scope of exemption and application
Transfers between regulated operators that meet the requirements of the Travel Rule will not be subject to this cap. This move aims to balance regulatory supervision of licensed institutions with operational flexibility. This means that inter-agency and compliance-to-compliance transfers can continue regardless of daily limits, while retail and unverified fund flows will face greater scrutiny. The "Travel Rules" require financial institutions to share information on senders and recipients of transactions, and their inclusion in the regulatory framework suggests Thailand wants to anchor its stablecoin rules on existing anti-money laundering standards.
Background and Market Impact
This trend reflects the broad trend of global regulators to implement stricter rules on stablecoin trading. The development of stablecoins has also driven a boom in enterprise-level stablecoin card plans, and the market is evolving with innovations such as Uniswap's stablecoin-linked products. If adopted, the rule could reshape the way Thai stablecoin users move money and set a template for other jurisdictions that are considering similar restrictions. Currently, the Securities and Exchange Commission of Thailand is collecting feedback to improve the final framework, and a consultation period is underway, and the results will be closely watched by exchanges and issuers in the region.
Thailand's regulatory direction
Thailand has been one of the jurisdictions with more active regulation of cryptocurrencies, having previously introduced licensing requirements for digital asset businesses and issued warnings for unregulated platforms. This stablecoin consultation builds on this foundation and extends the scope of regulation to payment channels that are increasingly used for remittances and daily transactions. Regulators in other parts of Southeast Asia are also closely watching developments in Thailand, as Thailand's approach could affect regional standards and establish expected norms for stablecoin issuers and exchange operations in the region.
