Thailand’s Securities and Exchange Commission (SEC) has opened a public hearing on rules that would cap stablecoin transfers into or out of a customer’s account at a licensed digital asset operator at 5 million baht (about US$150,000) per person, per operator, per day, and would require both ends of every transfer to be an account or wallet verified as belonging to the same customer. A stablecoin deposit from another person’s account, or a withdrawal to another person’s account, would be prohibited. The SEC board approved the principles on 3 September, and comments are being accepted until 25 September 2026, the Bangkok Post reported on 16 September, describing the move as a crackdown on money laundering, cybercrime and attempts to use digital assets to circumvent international money transfer rules.
The cap would not apply to transfers between customers of Thai-supervised operators where both sides comply with the Travel Rule, to operators moving stablecoins for their own business, to businesses supervised by the Bank of Thailand that are authorised to use stablecoins under specific arrangements, or to market makers for stablecoin/baht pairs, according to the hearing summary reported by CryptoSlate and InfoQuest. Both the originating and receiving accounts would have to comply with the Travel Rule, with customer classification and screening for mule accounts and high-risk wallets. Brokers and dealers offering off-platform transactions would have to set a minimum transaction value of 3 million baht and disclose prices, and brokers would be barred from arranging off-platform trades directly between customers, InfoQuest reported.
The rules would apply to customers of SEC-licensed digital asset operators; CryptoSlate describes those affected as retail customers of SEC-supervised platforms and stablecoin users, particularly of USDT. The SEC’s stated reason, as quoted by CryptoSlate, is “significant growth in stablecoin transaction volume” and “patterns associated with risks tied to money laundering, cybercrime and circumvention of rules governing international money transfers”. SEC Secretary-General Pornanong Budsaratragoon said the regulator “is committed to supervising the capital market and the digital asset market in a manner that keeps pace with relevant developments and risks”, as quoted by Coinpedia. In August the Bangkok Post reported that the SEC and the Bank of Thailand were preparing the rules jointly and expected them to be endorsed by the end of this year.
The proposal is not yet in force while the consultation runs to 25 September, Coinpedia noted. Separately, Thailand’s digital asset Travel Rule takes effect on 27 February 2027, according to CryptoSlate.
(Events and figures as of September 16, 2026; the SEC hearing document governs the details.)
References
Bangkok Post – SEC proposes changes to stablecoin transfer rules / CryptoSlate – Thailand’s stablecoin proposal would block transfers to other people’s wallets / InfoQuest – SEC opens hearing on stablecoin supervision to curb money laundering and cybercrime, daily transfer limit 5 million baht (Thai) / Coinpedia – Thailand SEC Proposes $150K Daily Cap on Stablecoin Transfers, Who Is Exempted? / Bangkok Post – Regulators prep new rules for stablecoin transactions
