Thailand SEC Proposes Separate Daily Limits of 5 Million Thai Baht on Stablecoin Deposits and Withdrawals

On November 12, Cointelegraph reported that Thailand's Securities and Exchange Commission plans to impose limits on stablecoin deposits and withdrawals for regulated crypto operators, setting daily deposit and withdrawal caps at 5 million Thai baht (approximately $148,000) per customer at each operator.

The draft proposes banning the transfer of stablecoins to or from third-party wallets, requires operators to verify customers' ownership of the accounts or wallets being used, and mandates compliance with travel rules alongside the use of blockchain analytics to identify suspicious wallets.

Furthermore, the draft requires crypto exchanges to disclose their market makers and the assets they provide liquidity for, and prohibits crypto brokers from utilizing liquidity providers for stablecoin-Thai baht trading pairs.