Thailand's SEC Plans to Restrict Stablecoin Transfers to Others' Wallets, Single-Day Limit of 5 Million Baht

September 13: Thailand's SEC plans to impose a "same owner" requirement on stablecoin transfers handled by licensed digital asset operators. Under the proposal currently in the consultation stage, stablecoins entering a customer's platform account must come from an account or wallet verified to belong to that customer, and withdrawals can only be made to a wallet or account under the customer's own name.

This means customers will not be able to receive stablecoins transferred from others' wallets or withdraw to others' wallets through platforms regulated by Thailand's SEC. The requirement applies only to transfers handled by licensed operators and does not cover peer-to-peer transactions that completely bypass the relevant platforms.

The proposal also requires that stablecoin transfer amounts be consistent with the customer's source of income and financial status, with a daily inbound and outbound limit of 5 million baht per customer at each operator. If both operators comply with the Travel Rule, transfers between regulated platforms may be exempt from the limit, but whether that exemption affects the same owner requirement remains unclear.

Thailand's SEC said the proposed measures stem from the growth in stablecoin, especially USDT, transaction volume, as well as related risks of money laundering, cybercrime, and circumvention of international remittance rules. The public comment period will end on September 25, and the separately formulated Travel Rule will take effect on February 27, 2027.