Thailand's Securities and Exchange Commission (SEC) opened a public consultation on November 12, 2026, on a draft framework for stablecoin transfers through regulated digital asset operators. The proposal would introduce daily limits for stablecoin deposits and withdrawals. Under the draft, each customer would face separate inbound and outbound limits of approximately 5 million baht per day at each operator.
The proposal also addresses wallet ownership verification, consistency between transaction values and customers' financial profiles, Travel Rule information requirements, and blockchain analytics. It reflects Thailand's efforts to strengthen oversight of stablecoin-related fund flows.
What Daily Stablecoin Limits Is Thailand Proposing?
The draft would set separate daily limits of 5 million baht for incoming and outgoing stablecoin transfers per customer at each digital asset operator. The amount is equivalent to approximately $148,000. The proposed calculation applies to each customer's activity with an individual operator rather than combining all transfers across every platform.
Transaction amounts would also need to be consistent with customers' declared income and financial circumstances. If activity substantially exceeds what a customer's risk profile can reasonably explain, the service provider may need to conduct additional reviews.
The proposal is currently at the public consultation stage. It should not be treated as an effective blanket prohibition on stablecoin transfers. The final limits, exemptions, and implementation date will depend on the adopted rules.
Why Does Thailand Want Wallet Ownership Verification?
The draft would require customers to use wallets verified as being owned or controlled by them for covered stablecoin transfers. This approach is intended to reduce anonymous transfers, third-party payment arrangements, and misuse of customer accounts.
Wallet ownership verification can help a provider establish the relationship between a customer and a transaction address, but it cannot independently prove that the funds are legitimate. Platforms still need to assess customer information, transaction purposes, sources of funds, and wallet histories.
The proposal also addresses Travel Rule information checks and blockchain analytics. This means operators would need to consider not only customer identity information but also on-chain fund flows and associated risk indicators.
How Should Stablecoin Platforms Prepare Their AML and KYT Controls?
If adopted, the proposed rules would require stablecoin operators to integrate daily transfer limits with customer risk assessments, wallet allowlists, and transaction monitoring. Systems would need to identify not only individual transfers exceeding a limit but also related activity conducted by the same customer through multiple addresses.
KYT tools can help identify high-risk wallets, unusual fund flows, and cross-chain transfers, but they should work alongside customer due diligence, sanctions screening, and manual investigations. Platforms should establish enhanced verification and escalation procedures for transactions that do not match customer profiles, involve unclear wallet ownership, or show unusual fund origins.
Thailand's consultation indicates that stablecoin oversight is expanding beyond issuers and reserve management to include everyday transfer activity. Businesses should monitor the final rules and avoid treating draft requirements as obligations that are already in force.