Thailand's stablecoin rules
Where it stands now. Thailand's SEC is taking comments until 26 November on draft rules capping each customer's stablecoin deposits and withdrawals at 5 million baht a day per operator; the rules are not yet in force.
The record 1 development
Thailand's SEC proposes a 5 million baht daily cap on each customer's stablecoin deposits and withdrawals at each platform
What happened. Thailand's Securities and Exchange Commission opened a public consultation on 12 November on draft rules that would cap each customer's stablecoin deposits, and separately their withdrawals, at 5 million baht a day at each licensed digital asset operator, Kaohoon, CoinPost and The Block reported. Stablecoins could only move to and from accounts or wallets verified as the customer's own; transfers from or to other people's wallets would be barred, Kaohoon and The Block reported. Comments are open until 26 November, Kaohoon reported.
Why it matters. The SEC said the rules aim to stop digital assets being used for money laundering, cybercrime or to get around rules on international money transfers, Kaohoon and The Block reported. CoinPost, citing a 10 September report in the Thai paper Thairath, said many transactions involved USDT sent from anonymous overseas wallets being sold at once in Thailand, or bought and sent abroad, and The Block said the central bank and the SEC had reportedly begun using data analytics to scrutinise unusual USDT trading.
- The value moved in or out must match the customer's source of income and financial position, the SEC said, according to The Block and Kaohoon.
- The cap would not apply to transfers between a customer's accounts at two Thai operators that both apply the Travel Rule, to operators moving funds for their own business, to operators the Bank of Thailand approves case by case to use stablecoins, to stablecoin/baht market makers, or to subscriptions and refunds in SEC-approved token offerings, Kaohoon and CoinPost reported.
- Exchanges would have to name their market makers and the assets they provide liquidity for on their websites, and brokers could not use liquidity providers for stablecoin/baht pairs, Kaohoon reported.
- Off-platform deals by brokers and dealers would need a minimum of 3 million baht each, with trading prices disclosed, and brokers could not arrange off-platform deals between two customers, Kaohoon reported.
- The draft follows a consultation on the principles held in September 2026, whose comments the SEC said it took into account, Kaohoon reported; Cointelegraph converted the cap to about $148,000 and The Block to about $147,750.
Read the originals (9), usually in their own language
- SEC opens hearing on stablecoin rules, plans to cap transfers in and out at 5 million a day to block money laundering · Kaohoon, headline translated by us
- Thailand seeks $148,000 daily cap on certain stablecoin transfers to curb money laundering · The Block
- Thailand proposes $148K daily cap on stablecoin deposits and withdrawals · Cointelegraph
- Thai authorities propose a daily cap of about 23 million yen on stablecoin transfers to counter money laundering · CoinPost, headline translated by us
- Thailand caps stablecoin transfers at a maximum of Rp 2.69 billion · Liputan6, headline translated by us
- Thailand tightens its grip on stablecoins: a daily transfer cap and a ban on sending to third-party wallets · Arab BTC, headline translated by us
- Thailand's SEC plans separate daily caps of 5 million baht on stablecoin deposits and withdrawals · TechFlow, headline translated by us
- Thailand proposes a daily cap of about $148,000 on stablecoin transfers · PANews, headline translated by us
- Asia Market Daily: Thailand Proposes $148K Daily Stablecoin Transfer Cap (2026/11/13) · PANews