Thailand’s Securities and Exchange Commission (SEC) has opened a public consultation on proposed stablecoin regulations that would impose a daily, one-way transfer limit of approximately $151,000 per person. The proposal would also require deposits and withdrawals to originate from verified accounts, with the stated aim of strengthening compliance and reducing risks associated with money laundering and cybercrime.

The development was highlighted by WuBlockchain in a post on X: https://x.com/WuBlockchain/status/2098948026496872954.

Proposed Transfer Limits and Exemptions

Under the proposal, each person would be subject to a stablecoin transfer cap of about $151,000 per day. The limit is intended to mitigate risks linked to illicit activities while ensuring that transactions are conducted through accounts whose identities have been verified.

Transfers between regulated operators that comply with the Travel Rule would be exempt from the cap. This exception would allow compliant operators to continue transferring stablecoins without the proposed daily limit, while maintaining regulatory oversight of the transactions.

The consultation is currently open for public feedback. Because the rules remain under consultation, their final scope and implementation details are subject to the feedback process. The SEC’s proposal reflects a broader move among regulators toward stricter controls on cryptocurrency transactions and could reshape how stablecoin transfers are conducted in Thailand.

Key Provisions

The proposed framework includes the following requirements:

• A daily stablecoin transfer cap of approximately $151,000 per person.
• Deposits and withdrawals conducted only through verified accounts.
• Measures intended to combat money laundering and cybercrime.
• No cap on transfers between compliant regulated operators that follow the Travel Rule.
• A public consultation period during which stakeholders may submit feedback.

Potential Market Effects

The proposal would add a new layer of regulatory scrutiny to Thailand’s stablecoin market. The broader cryptocurrency market is showing mixed conditions, while no significant price movements have been reported for stablecoins. Current volume data is unavailable.

Stablecoins are digital currencies generally pegged to traditional currencies and are used for transactions and trading. The proposed rules could affect operators’ compliance costs, market liquidity and trading practices. Participants may also assess how the framework would apply to cross-border transactions and institutional activity if the rules are finalized.

The Thailand SEC has jurisdiction over cryptocurrency activities in the country and is responsible for enforcing compliance with national financial laws and preventing illegal activities. Feedback from the cryptocurrency community during the consultation could influence the final regulations.

Source: Coinfomania