Under the proposed framework, licensed digital asset operators would be required to ensure that stablecoin deposits and withdrawals occur only between accounts verified as belonging to the same customer. This effectively prohibits users from sending assets directly to third-party wallets or receiving them from unverified external sources. Transfers between compliant, Thai-regulated platforms would remain exempt from the daily ceiling, provided that customer information is successfully shared through the established Travel Rule protocols.
Regulatory Oversight and Exemptions
The regulator has carved out specific exceptions for commercial entities, authorized institutions, and qualifying market makers, provided their activities align with documented business purposes. For standard retail users, however, the five-million-baht limit remains firm, with operators empowered to impose even stricter thresholds if a transaction appears inconsistent with a customer's known financial profile. Beyond transfer caps, the proposal mandates that brokers handling off-platform trades must disclose pricing on their platforms and adhere to a minimum transaction value of three million baht, or approximately $91,000.
Licensed exchanges will also face heightened scrutiny regarding their liquidity providers. Operators must now monitor the conduct of market makers and verify the origin of assets used in liquidity arrangements to prevent these channels from being exploited for illicit finance. These measures are designed to increase market transparency and ensure that all liquidity providers operate under jurisdictions compliant with Financial Action Task Force recommendations. The SEC is accepting public commentary on these proposals through September 25, with final requirements slated to take effect 60 days following their official adoption.
Comments (0)
No comments yet. Be the first!