Thailand’s Securities and Exchange Commission (SEC) has proposed daily limits on stablecoin transfers conducted through licensed digital asset operators. The proposed ceiling is 5 million baht per day—described by one news outlet as approximately $151,000—but the measure remains open for public comment and is not currently enforceable.

The SEC is Thailand’s principal financial markets regulator and is separate from the U.S. Securities and Exchange Commission. Its board approved the supervisory principles on September 3, 2026, for public consultation, according to the SEC’s announcement.

Two separate daily ceilings

The proposal sets two distinct limits rather than one combined allowance. The inbound, or deposit, ceiling is 5 million baht per day for each person at each licensed operator. The outbound, or withdrawal, ceiling is separately set at the same amount for each person and operator.

The SEC’s text does not establish a single pool combining deposits and withdrawals. Each direction would therefore be measured independently. The dollar equivalent of approximately $151,000 is only an estimate: the proposal is denominated in baht and does not specify an exchange rate or valuation date.

Because the proposal is framed around transfers through licensed operators, it addresses how those operators process customer deposits and withdrawals rather than establishing a general limit on stablecoin holdings. Its practical effect would depend on the final wording and implementation rules, which have not yet been issued.

Stablecoins are crypto tokens designed to maintain a relatively stable value, typically through a peg to the U.S. dollar. The SEC said it acted after observing significant growth in stablecoin transaction volumes, particularly involving Tether (USDT). It cited money laundering, cybercrime and the circumvention of international transfer rules as reasons for the proposal. These are the regulator’s stated observations and have not been independently verified in the source material. USDT was trading at about $1.00 globally at the time of writing.

Wallet ownership and financial-profile requirements

The proposed caps would apply to stablecoin transfers made through licensed digital asset operators, but the monetary limits would not be the only conditions.

For deposits, the sending wallet would have to be verified as belonging to the customer. For withdrawals, the receiving wallet would likewise have to be verified as the customer’s own wallet. The proposal expressly prohibits transfers to or from another person’s account.

Thailand has separately advanced a crypto Travel Rule requiring sender and recipient information. That initiative is distinct from the proposed transfer ceilings; related details are available in earlier coverage of Thailand’s crypto Travel Rule.

Transfer amounts would also have to correspond with a customer’s source of income and financial position. As a result, the proposed ceiling would not constitute an automatic entitlement to transfer 5 million baht. A smaller transaction could still be questioned if it did not appear consistent with the customer’s financial circumstances.

Proposed exemptions and additional measures

Some transfers would be exempt specifically from the value cap. The listed categories include transfers between customers through SEC-supervised operators that both comply with Travel Rule requirements; business transfers conducted by operators in their own names; transfers involving Bank of Thailand-supervised operators authorized to use stablecoins; and qualifying stablecoin-to-baht market-maker transfers.

These exemptions concern the monetary ceiling only. They do not waive the requirement that the relevant customer wallets be verified as belonging to that customer and should not be interpreted as a blanket exemption from the proposal’s other conditions.

The SEC’s September 11 consultation also covers measures beyond the retail transfer limits. It proposes a minimum off-platform transaction value of 3 million baht for digital asset brokers and dealers, requires trading-price disclosures, and would prohibit brokers from arranging off-platform trades between customers, according to the SEC consultation notice.

The consultation would also bar brokers from using liquidity providers for stablecoin/baht trading pairs and require them to disclose those providers’ names and conflicts of interest. The initiative follows other proposed changes in Thailand’s digital-asset market, including proposed retail Bitcoin and Ethereum ETF rules.

Consultation remains open

The SEC opened the consultation on September 11, 2026, and is accepting public comments through September 25, 2026. Until that process is completed, the transfer ceilings remain draft supervisory principles rather than binding rules.

The available announcements do not establish a final adoption date or implementation date. They also do not specify penalties or enforcement mechanisms. The proposal comes as the broader stablecoin sector faces pressure, with total stablecoin market capitalization reported to have fallen by more than $10 billion since May.

For crypto users in Thailand, no immediate change follows from the proposal. Customers moving large stablecoin amounts through licensed operators would need to monitor the September 25 comment deadline and subsequent SEC announcements, because the final scope, approval and timing of any rules remain unsettled.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk.

Source: CoinLineup.