Thailand Imposes 5 Million Baht Daily Cap on Stablecoin Transfers

,Thailand's Securities and Exchange Commission has rolled out a new set of rules to govern stablecoin transactions across regulated digital asset operators.

The regulator announced the draft notification on November 12th, aiming to stop the use of cryptocurrencies in money laundering and cybercrime.

These limits, which seek to clean up the entire space, will remain under public comment review until November 26th.

The proposal features a daily transfer limit of 5 million Thai baht per customer at each regulated digital asset operator.

This 5 million baht ceiling applies separately to both incoming and outgoing stablecoin transfers.

However, the SEC notes that transaction values must remain consistent with a customer's declared income and financial status. Transfers between a customer’s own accounts at two SEC-supervised operators are exempt, as long as both operators adhere to the Travel Rule. The SEC is simultaneously demanding stronger wallet ownership verification from operators, who must enable customers to deposit and withdraw stablecoins to wallets registered in their own names. Operators must also analyze customers, track suspicious activity, and follow the Travel Rule to make illicit fund movement harder. Further restrictions are hitting brokers and exchanges. Exchanges must now publicly disclose their market makers and the specific digital assets they provide liquidity for. Brokers and dealers engaging in off-platform transactions face a mandatory minimum transaction threshold of 3 million baht and must publish trading prices for transparency. This crackdown effectively prohibits brokers from arranging direct off-platform trades between customers.