Thailand Proposes Strict $148K Daily Caps on Stablecoin Movement

, Thailand's Securities and Exchange Commission announced a draft rule setting daily caps for stablecoin transactions at regulated crypto operators. The proposed limit is 5 million baht, which equates to approximately $148,000, and it applies separately to both deposits and withdrawals for every customer.

The regulator is demanding that customers use wallets they actually own, and the draft rules will strictly bar stablecoin transfers to or from third-party wallets. Operators will now be required to verify customer wallet ownership and adhere to the Travel Rule, which mandates sharing transfer data and using blockchain analytics.

The proposed changes extend deep into the market, requiring exchanges to publicly name their market makers and identify assets where they provide liquidity. Furthermore, crypto brokers cannot use liquidity providers for stablecoin-baht pairs, and off-platform trades must clear a minimum of 3 million baht.

These new guidelines follow a consultation held by the SEC back in September to push tighter oversight on the country's crypto operators.