Thailand SEC Proposes 5 Million Baht Daily Stablecoin Transfer Limits and Wallet Screening
Thailand’s Securities and Exchange Commission has approved principles for tighter supervision of stablecoin transactions through licensed digital asset operators, including customer-owned-wallet requirements, daily transfer limits and enhanced screening for mule-account and illicit-finance risks.
The SEC Board announced the principles on 3 September 2026. They are not yet final rules: the regulator said it will conduct a public hearing during September before considering revisions to the regulatory framework.
Customer-owned wallets and 5 million baht limits
Under the approved principles, stablecoins transferred into a customer’s account with a digital asset operator would have to originate from an account or wallet verified as belonging to that customer. Likewise, stablecoins transferred out would have to go to an account or wallet verified as belonging to the same customer. Transfers into or out of a customer account using another person’s account or wallet would be prohibited.
The originating and destination accounts or wallets would also have to satisfy Travel Rule requirements and undergo customer profiling and screening to identify mule-account links or other indicators of illegal activity. The SEC specifically envisages the use of blockchain analytics and other monitoring tools to trace digital asset movements and detect connections to high-risk or watchlist wallets.
Inbound and outbound stablecoin transfers would also have to be consistent with the customer’s source of income and financial position. The proposed limit is 5 million baht per day, per person, per digital asset operator for inbound transfers and the same amount for outbound transfers.
The 5 million baht limit would not apply to transfers between customer accounts through digital asset operators supervised by the SEC, provided both the originating and destination operators comply with Travel Rule requirements.
Broader controls on stablecoin market infrastructure
The SEC Board also approved principles for revising oversight of market makers on digital asset exchanges, introducing rules for liquidity providers used by digital asset brokers and setting supervisory guidelines for off-platform transactions such as big-lot trades. Liquidity providers and source exchanges connected to brokers would need to be subject to regulatory supervision, including in areas such as anti-money laundering or business conduct.
The regulator said it had observed a significant increase in stablecoin transaction volume and value, particularly involving USDT, together with transaction patterns that could present money-laundering, cybercrime and international money-transfer circumvention risks. It developed the proposed measures with stakeholders including the Bank of Thailand, the Thai Digital Asset Operators Trade Association and licensed operators.
For compliance teams, the proposal signals a move toward tighter source-of-funds alignment, wallet ownership verification and blockchain-based transaction monitoring for stablecoins. The final requirements may still change following the September consultation.
