Thailand is set to cap stablecoin transactions! Daily deposits and withdrawals limited to $148,000—will third-party wallets also be restricted?
Stablecoins are becoming increasingly convenient, but regulators are starting to scrutinize the movement of funds.
On November 12, Thailand’s Securities and Exchange Commission (SEC) announced a draft proposal to regulate stablecoin transactions. It would set separate daily limits on stablecoin transfers into and out of regulated digital asset platforms: up to 5 million baht, or approximately $148,000, per user, per platform, in each direction per day.
Here are a few details worth noting.
First, deposits and withdrawals are calculated separately. It’s not a combined limit of just $148,000 for both.
Second, users must use a verified wallet that belongs to them. In other words, you can’t deposit funds to an exchange using someone else’s wallet, or withdraw stablecoins directly from a platform to a third-party wallet.
Thailand also plans to step up Travel Rule checks and on-chain risk monitoring to further trace suspicious flows of funds.
However, the proposal is still in the public consultation phase and has not yet taken effect. Users who meet Travel Rule requirements can transfer funds between two Thai SEC-regulated platforms without being subject to the above limits. Some institutions and specific types of business are also exempt. The public consultation period ends on November 26.
I think this sends a signal worth paying attention to:
Stablecoins are evolving from simple trading tools into part of the infrastructure for cross-border money flows and finance. As their use expands, regulators are paying more attention to the source of funds, wallet ownership, and transaction transparency.
For everyday users, using stablecoins in the future may mean paying attention not only to transfer fees and speed, but also to platforms’ compliance requirements.
Do you think tighter stablecoin regulation will help the industry mature, or will it undermine the freedom and convenience that have always made stablecoin transfers appealing?
#USDT #USDC #泰国拟限稳定币每日充提14.8万美元
Stablecoins are becoming increasingly convenient, but regulators are starting to scrutinize the movement of funds.
On November 12, Thailand’s Securities and Exchange Commission (SEC) announced a draft proposal to regulate stablecoin transactions. It would set separate daily limits on stablecoin transfers into and out of regulated digital asset platforms: up to 5 million baht, or approximately $148,000, per user, per platform, in each direction per day.
Here are a few details worth noting.
First, deposits and withdrawals are calculated separately. It’s not a combined limit of just $148,000 for both.
Second, users must use a verified wallet that belongs to them. In other words, you can’t deposit funds to an exchange using someone else’s wallet, or withdraw stablecoins directly from a platform to a third-party wallet.
Thailand also plans to step up Travel Rule checks and on-chain risk monitoring to further trace suspicious flows of funds.
However, the proposal is still in the public consultation phase and has not yet taken effect. Users who meet Travel Rule requirements can transfer funds between two Thai SEC-regulated platforms without being subject to the above limits. Some institutions and specific types of business are also exempt. The public consultation period ends on November 26.
I think this sends a signal worth paying attention to:
Stablecoins are evolving from simple trading tools into part of the infrastructure for cross-border money flows and finance. As their use expands, regulators are paying more attention to the source of funds, wallet ownership, and transaction transparency.
For everyday users, using stablecoins in the future may mean paying attention not only to transfer fees and speed, but also to platforms’ compliance requirements.
Do you think tighter stablecoin regulation will help the industry mature, or will it undermine the freedom and convenience that have always made stablecoin transfers appealing?
#USDT #USDC #泰国拟限稳定币每日充提14.8万美元