Thai SEC Proposes Daily Caps of 5 Million Thai Baht Each for Stablecoin Deposits and Withdrawals

TechFlow, November 12 — According to Cointelegraph, the Securities and Exchange Commission of Thailand plans to set stablecoin deposit and withdrawal limits for regulated crypto operators, capping daily deposits and withdrawals at 5 million Thai baht each per customer per operator, equivalent to about 148,000 USD.

The draft would prohibit transferring stablecoins to or from third-party wallets, require operators to verify customers' ownership of the accounts or wallets used, comply with the Travel Rule, and use blockchain analytics to identify suspicious wallets.

In addition, the draft requires crypto exchanges to disclose market makers and the assets for which they provide liquidity, and prohibits crypto brokers from using liquidity providers in stablecoin-Thai baht trading pairs.

Source: TechFlow