The draft rules would strengthen due diligence requirements for digital asset intermediaries and introduce greater transparency in off-platform cryptocurrency transactions.
Thailand’s Securities and Exchange Commission (SEC) is seeking public comments on draft rules that would introduce stricter requirements for stablecoin transactions conducted through digital asset operators. The proposed measures aim to prevent money laundering, cybercrime, and the circumvention of regulations governing international money transfers while strengthening the supervision of digital asset operators.
Under the draft notification, customers would only be permitted to transfer stablecoins between accounts or wallets verified as belonging to them. Transfers into and out of customer accounts would each be subject to a daily limit of 5 million baht per customer per operator. Exemptions would apply to certain regulated businesses, market makers, and transactions involving approved digital token offerings. Transfers between accounts held with SEC-supervised operators would also be exempt, provided both operators comply with the Travel Rule.
The proposed requirements would also tighten oversight of market makers, liquidity providers, and source exchanges. Exchanges would be required to disclose their market makers and the digital assets for which they provide liquidity, while brokers would face enhanced screening and monitoring obligations for liquidity providers and source exchanges.
The SEC also proposes prohibiting liquidity providers in stablecoin-to-Thai baht trading pairs and introducing greater transparency requirements for off-platform transactions, including a minimum transaction value of 3 million baht and public disclosure of trading prices.
The draft notification would further empower the SEC to require digital asset operators to remedy failures to comply with information collection and disclosure requirements within a specified period. The consultation remains open until 26 November 2026, with interested parties invited to submit comments through the SEC website or by email.
Why does it matter?
The proposed framework reflects efforts to bring stablecoin activity in Thailand within a more clearly defined supervisory structure as digital assets become increasingly connected to established financial services. Its approach places particular emphasis on the movement of funds across platforms and intermediaries, recognising that effective oversight requires visibility beyond individual service providers. The consultation will also offer an opportunity to assess how these safeguards can be applied without creating unnecessary barriers to legitimate digital asset transactions.
About author
Nikoleta Selena
Nikoleta Selena is a DigWatch team member, Knowledge Fellow, and specialised content writer since 2024, covering emerging technologies including blockchain, cryptocurrency, fintech, AI, quantum technology, and encryption. Her work spans research, analysis, news, and specialised content on technological and policy developments.
