THAILAND WANTS TO CAP STABLECOINS 🇹🇭
Look at what’s happening in Thailand: its regulator is proposing a daily limit of $148,000 on deposits of stablecoins like $USDT on the country’s regulated exchanges, with the same limit applying separately to withdrawals. The idea is to curb money laundering and prevent stablecoins from being used to bypass controls on sending money abroad. The draft would also ban transfers of stablecoins to or from third-party wallets: only a wallet you own and have verified would be allowed. Note that for now, this is only a proposal—it’s not yet an active rule.
To me, this shows that governments no longer see stablecoins as a small thing: they move so much money that governments want to regulate them like banks.
Do you think it’s a good idea to limit how much can be moved each day, or is that too much control?
#Stablecoins
Look at what’s happening in Thailand: its regulator is proposing a daily limit of $148,000 on deposits of stablecoins like $USDT on the country’s regulated exchanges, with the same limit applying separately to withdrawals. The idea is to curb money laundering and prevent stablecoins from being used to bypass controls on sending money abroad. The draft would also ban transfers of stablecoins to or from third-party wallets: only a wallet you own and have verified would be allowed. Note that for now, this is only a proposal—it’s not yet an active rule.
To me, this shows that governments no longer see stablecoins as a small thing: they move so much money that governments want to regulate them like banks.
Do you think it’s a good idea to limit how much can be moved each day, or is that too much control?
#Stablecoins
