Thailand’s stablecoin proposal would block transfers to other people’s wallets

According to CryptoSlate, Thailand’s Securities and Exchange Commission has proposed a same-owner requirement for stablecoin transfers that would restrict how customers move tokens like USDT through licensed crypto firms. Under the consultation principles, stablecoins entering a customer account at a digital asset operator would need to originate from an account or wallet verified as belonging to that customer, with withdrawals restricted in the same manner. Deposits or withdrawals involving another person's account would be prohibited.

Reported by CryptoSlate, the proposal sets separate inbound and outbound caps of 5 million baht per day, per person, per operator. Transfers between supervised operators can qualify for a cap waiver if both comply with the Travel Rule. The SEC stated it developed these measures following growth in stablecoin volume and value, citing risks associated with money laundering, cybercrime, and international transfer rules.

CryptoSlate noted that the public consultation closes on September 25, while Thailand's finalized Travel Rule takes effect on February 27, 2027. The stablecoin restrictions remain at the consultation stage.