Thailand proposes $148K daily cap on stablecoin deposits and withdrawals

Thailand’s SEC would set separate daily caps for stablecoin deposits and withdrawals and require customers to use wallets they own.

Thailand’s securities regulator has proposed capping daily stablecoin deposits and withdrawals at 5 million baht ($148,000) each per customer at regulated crypto operators.

The limit would apply separately to deposits and withdrawals at each operator, Thailand’s Securities and Exchange Commission (SEC) said in a Thursday announcement. The regulator said the rules aim to curb money laundering, cybercrime and attempts to bypass cross-border money transfer rules.

The draft would bar stablecoin transfers to and from third-party wallets. Operators would have to verify that customers own the accounts or wallets they use for deposits and withdrawals.

Read more