Thailand SEC Seeks Comments on Draft Stablecoin Rules

Thailand’s Securities and Exchange Commission opened a public consultation on November 12 on draft rules for stablecoin transfers and digital-asset businesses. The proposed framework would set separate daily limits of 5 million baht for incoming and outgoing stablecoin transfers per customer at each regulated operator. The consultation closes November 26, 2026; the measures are proposals, not rules in force.

Under the draft, operators would have to verify that sending and receiving accounts or wallets belong to the same customer. Transfers would also need to be consistent with a customer’s reported income and financial status. Operators would screen for suspicious activity, including possible mule wallets, and use blockchain analytics to trace transactions and identify connections to high-risk or watchlisted addresses.

The draft would exempt qualifying transfers between a customer’s own accounts at SEC-supervised operators if both firms comply with the Travel Rule, which requires relevant information to accompany transfers. Other proposed exemptions include certain transfers by digital-asset operators and approved businesses supervised by the Bank of Thailand, as well as...