Thailand SEC Eyes $148K Daily Stablecoin Transfer Cap at Crypto Exchanges

- Daily 5 million baht stablecoin transfer cap per customer at licensed operators - New rules target external wallets, brokers, and off-platform trades On November 13, 2026 (UTC), Stablecoin Insider reported that Thailand’s Securities and Exchange Commission (SEC) has proposed a $148,000 daily stablecoin transfer cap per customer at licensed crypto operators, aiming to curb money laundering and tighten regulatory oversight. On November 13, 2026, Blockonomi reported that Thailand’s SEC published a draft rule imposing a daily limit of 5 million baht (about $148,000) for stablecoin deposits and withdrawals per customer at licensed crypto trading platforms. According to Blockonomi, deposits and withdrawals are counted separately, and the cap applies specifically to transfers involving external wallets. In addition, Crypto Times reported on November 13, 2026, that the draft focuses on strengthening monitoring of flows between regulated platforms and unhosted wallets. Transfers between a customer’s own verified accounts at SEC-supervised platforms that comply with the FATF Travel Rule are exempt from this cap, which is intended to keep compliant intra-platform activity flowing while restricting higher-risk channels. Furthermore, operators must verify wallet ownership and block all transfers to or from third-party wallets. Platforms also must use blockchain analytics to detect suspicious activity and ensure transfer values match customers’ financial circumstances, thereby aligning with broader anti-money laundering standards. The proposed framework also expands oversight for exchanges and brokers. Market makers must disclose their activities so that regulators can better understand liquidity provision and potential conflicts of interest. In addition, brokers cannot use external liquidity providers for stablecoin–baht trades, which is designed to keep these transactions within regulated rails. Off-platform trades by brokers or dealers must have a minimum transaction size of 3 million baht (about $88,500), and prices must be publicly listed to enhance transparency and reduce opaque over-the-counter activity. Notable exceptions include business transfers, certain market-maker transactions, ICO payments and refunds on SEC-approved platforms, and transactions pre-approved by the Bank of Thailand. Thailand’s SEC is now accepting public comment on the draft until November 26, and the new regulations are expected to come into effect 60 days after the final announcement. As of November 13, 2026, at 15:10 UTC, major stablecoins were trading close to their pegs. Tether USDt (USDT) and USD Coin (USDC) were each trading at $1, with changes of 0.071% and 0.004%, respectively. USDD (USDD) traded at $0.998 with a -0.033% change, while TrueUSD (TUSD) traded at $0.999 with a 0.04% change. Meanwhile, PayPal USD (PYUSD) was at $1 with a 0.007% change, and Ethena USDe (USDe) was at $0.999 with a 0.006% change. First Digital USD (FDUSD) traded at $0.995 with a -0.055% change, indicating a slightly wider deviation from its $1 target than its peers.