Thailand’s Securities and Exchange Commission (SEC) has proposed capping stablecoin deposits and withdrawals at 5 million baht, about $148,000, per customer per day at regulated crypto operators. The regulator announced the draft on a Thursday, according to an article published by Cointelegraph on 12 November 2026.
The limit would apply separately to deposits and to withdrawals at each operator, the SEC said in its announcement. The regulator said the rules are meant to curb money laundering, cybercrime and attempts to bypass cross-border money transfer rules.
Third-party wallets and compliance duties
According to Cointelegraph’s description of the draft, stablecoin transfers to and from third-party wallets would be barred. Operators would also have to verify that customers own the accounts or wallets they use for deposits and withdrawals.
Cointelegraph also reports that operators would have to comply with the Travel Rule and use blockchain analytics to identify wallets linked to suspicious activity. The Travel Rule requires crypto service providers to collect and share information about transfers.
Market maker and liquidity provider rules
The draft reportedly goes beyond transfers. Per Cointelegraph, exchanges would have to name their market makers and the assets for which they provide liquidity. Brokers would be barred from using liquidity providers for stablecoin-baht pairs, and certain off-platform trades would be subject to a 3 million baht minimum.
The proposal follows a consultation held in September, in which the SEC floated stablecoin transfer limits and tighter oversight of crypto operators, Cointelegraph reported.
What remains unclear
Several points are not yet known. The sources reviewed do not say whether or when the rules would take effect, or whether the draft is open to public consultation and until when. It is also unclear which operators are covered beyond regulated crypto operators, and whether the final cap would differ from the proposed 5 million baht. Details of the wallet, Travel Rule and market maker provisions come from Cointelegraph’s account of the draft rather than from the regulator’s text, which was not reviewed here.
Sources
- cointelegraph.com Cointelegraph — Thailand proposes $148K daily cap on stablecoin deposits and withdrawals Accessed
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