Thailand SEC Proposes $147,750 Daily Stablecoin Transfer Limit to Fight Money Laundering

Summary

• Thailand’s SEC proposes a $147,750 daily stablecoin transfer limit to combat money laundering and strengthen oversight of cryptocurrency transactions nationwide.
• Cryptocurrency platforms must verify customer identities, monitor suspicious wallets, and ensure stablecoin transfers align with customers’ declared financial circumstances accurately.
• Crypto exchanges face stricter market maker disclosure requirements, while regulators seek public feedback on the proposed rules until November 26.

Thailand’s Securities and Exchange Commission (SEC) has proposed new restrictions limiting stablecoin transactions across licensed cryptocurrency platforms. The proposal would cap daily deposits and withdrawals at 5 million baht ($147,750) per customer, per operator.

According to the SEC’s official announcement, the measures aim to prevent money laundering, cybercrime, and unauthorized international financial transfers. Additionally, customers would only transfer stablecoins between accounts or wallets registered under their identities, excluding independent peer-to-peer blockchain transactions.

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Thailand SEC Tightens Stablecoin Transfers and Customer Verification Rules

Under the proposed framework, cryptocurrency operators must verify that customer transactions align with their income sources and financial circumstances. Platforms must also comply with the Travel Rule, strengthen customer screening, and monitor transactions involving potentially suspicious wallets.

Furthermore, operators would use blockchain analytics tools to identify connections with high-risk addresses and individuals under regulatory scrutiny. The SEC outlined several exemptions covering legitimate business activities and transfers between accounts belonging to the same customer.

Stablecoin market makers, certain token offerings, investor refunds, and approved business transactions would also qualify for exemptions. Similarly, transactions authorized by the Bank of Thailand would remain outside the proposed daily transfer restriction.

These requirements follow a September public hearing examining stronger supervision of stablecoin activities through licensed digital asset operators.

Crypto Exchanges Face Additional Market Maker Disclosure Requirements

Beyond transfer restrictions, Thailand’s SEC wants cryptocurrency exchanges to disclose their market makers and the digital assets receiving liquidity support. Operators must also strengthen screening procedures to identify potential financial risks associated with their liquidity providers.

Meanwhile, brokers would face restrictions preventing them from using liquidity providers for stablecoin trading pairs involving the Thai baht. Certain off-platform transactions involving brokers and dealers would require a minimum value of 3 million baht ($88,528).

Businesses handling these transactions must disclose execution prices to improve regulatory oversight of cryptocurrency trading activities. Thai authorities have also increased monitoring of unusual USDT transactions using financial data analytics to identify potential money laundering. The SEC has invited public comments on the proposed regulations, setting November 26 as the submission deadline.

Conclusion

Thailand’s proposed framework would strengthen stablecoin oversight through transaction limits, customer verification requirements, and additional cryptocurrency trading disclosures. Regulators will review public feedback before determining the final rules governing stablecoin activities on licensed platforms.

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