Thailand SEC proposes daily stablecoin deposit and withdrawal caps of 5 million baht each, and restrictions on third-party wallets
The Thailand Securities and Exchange Commission (SEC) on November 12, 2026, issued a draft and opened it for public comment, proposing restrictions on stablecoin transactions by regulated digital asset operators. The draft stipulates that for each customer at each operator, the daily cap on stablecoin deposits and withdrawals is 5 million baht each (about US$148,000), calculated independently in each direction.
The draft also prohibits stablecoin transfers into or out of third-party accounts or wallets, and requires operators to verify customers’ ownership of the accounts and wallets they use. Operators must comply with the Travel Rule, use blockchain analysis tools to identify suspicious addresses, and disclose market maker information. Certain cases, including transfers among the same customer across operators and specific market-making activities, may be exempt from the limits.
The SEC said the measures are intended to prevent money laundering, cybercrime, and the circumvention of cross-border fund transfer rules. The comment period runs until November 26, 2026. The proposal is currently at the draft stage and has not yet taken final effect.
Original source:
Title: SEC seeks public comments on draft notification governing stablecoin transactions conducted through digital asset business operators
Publisher: Thailand Securities and Exchange Commission (SEC)
Date published: 2026-11-12
URL: sec.or.th/EN/Pages/News_Detail.aspx
Source nature: Official announcement by a regulatory agency
Verification status: The main content of the official English announcement page was actually read in this review; verification date: 2026-11-13
Supporting content: The SEC is seeking comments on the draft stablecoin transaction rules, setting a daily deposit and withdrawal cap of 5 million baht each per customer per operator, banning transfers to third-party wallets, and requiring ownership verification, the Travel Rule, and blockchain analysis, among other measures.
ABAB AI Insight
The Thailand SEC has long been responsible for digital asset regulation and has previously imposed licensing and anti-money-laundering requirements on crypto trading platforms. This draft targets stablecoin deposits and withdrawals as well as wallet routes, and is a further tightening of fund-flow controls within the existing framework rather than a comprehensive ban on stablecoin use. Because the caps are calculated separately by operator, and transfers across operators by the same customer may be exempt, the regulator is distinguishing between within-platform flows and external transfers.
In terms of capital and business channels, stablecoins are often used for cross-border fund transfers and transaction settlement. Restricting third-party wallets and requiring ownership verification can reduce fund commingling through unidentified addresses while increasing compliance costs. Market maker disclosure and liquidity provider restrictions are aimed at market-structure transparency. The authorities did not disclose the specific number of affected customers or the expected change in transaction volume after implementation.
Comparable cases include other Asian jurisdictions imposing caps and Travel Rule requirements on stablecoin or crypto deposits and withdrawals. The similarity lies in the anti-money-laundering and cross-border fund-control objectives; the difference is that Thailand explicitly sets separate caps for deposits and withdrawals while also restricting third-party wallet routes.
The concrete change is that stablecoin in-and-out flows at regulated operators will be subject to daily caps and same-name wallet constraints, and large or cross-party transfers will need to go through other compliant channels or exemption paths. The indicators to watch are the extent of adjustments to the final rules after the consultation period, and the change in stablecoin deposit and withdrawal volumes on regulated platforms after implementation.
ABAB News · Cognitive Law
Stablecoin deposit and withdrawal caps are calculated separately by direction, and can independently constrain inflow and outflow volumes.
Banning transfers to third-party wallets limits fund paths to verified accounts under the same name.
Because the draft is being publicly consulted, the final form of the rules may still change.