Thailand SEC proposes daily cap on stablecoin transfers at $151K

Thailand’s Securities and Exchange Commission just drew a line in the sand for stablecoin users. The regulator approved consultation principles on September 3 that would cap daily stablecoin transfers at 5 million baht, roughly $151K, per licensed digital asset operator. Under the proposed framework, all inbound and outbound stablecoin transfers must exclusively involve wallets or accounts verified as belonging to the customer. Third-party transfers are completely prohibited. What the rules actually say Transfer limits would be calibrated to each customer’s verified income and financial status. Transactions between Thai-supervised operators that comply with the Travel Rule would be exempt from the transfer restrictions. Certain business transfers conducted by operators and entities authorized by the Bank of Thailand also get a pass. The consultation period runs until September 25, 2026, meaning these rules aren’t final yet. Why now: the USDT problem In July 2026, the Bank of Thailand flagged abnormal trading volumes involving Tether’s USDT. The central bank’s concern was specific: stablecoins were being used to sidestep normal banking disclosure requirements. The proposed stablecoi...