The Thailand Securities and Exchange Commission has launched a consultation on proposed controls for stablecoin transactions through digital asset operators, following the SEC Board’s approval of the principles in September 2026. Stablecoin transfers would generally be permitted only between an operator account and an account or wallet belonging to the same customer, with ownership and risk checks conducted under the Travel Rule. Separate inbound and outbound limits of THB 5 million per customer per day would apply at each operator, subject to exemptions for specified operators, Bank of Thailand supervised businesses and market makers, as well as qualifying transfers between SEC supervised operators. The proposals would also require off-platform transactions by digital asset brokers and dealers to be worth at least THB 3 million and require publication of trading prices. Brokers could not arrange such transactions directly between customers but could match orders through digital asset exchanges. Exchanges and brokers would face tighter disclosure, screening and monitoring requirements for market makers, liquidity providers and source exchanges, including a ban on liquidity providers for stablecoin and Thai baht pairs. The SEC would also gain powers to order corrective or other action when operators fail to provide complete and accurate supervisory information.

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