According to Cointelegraph, the Securities and Exchange Commission (SEC) of Thailand has introduced a proposed framework to regulate stablecoin transactions with stricter operational boundaries. The regulatory body intends to implement separate daily limits for both the deposit and withdrawal of these digital assets. This move aims to enhance market stability and protect investors from potential liquidity risks associated with high-volume trading activities.
Under the new proposal, individual users would be required to utilize wallets that they personally own and control. This requirement is designed to ensure that customers maintain direct custody of their assets, thereby reducing reliance on third-party custodial services that may pose security vulnerabilities. By mandating self-custody, the SEC seeks to empower users with greater responsibility over their digital holdings while simultaneously lowering systemic risks within the cryptocurrency ecosystem.
The proposed daily cap is set at approximately $148,000 USD. This threshold applies independently to deposits and withdrawals, meaning that a user could potentially move a significant volume of stablecoins within a 24-hour period, provided they adhere to the separate limits for each transaction type. The introduction of these caps reflects a broader trend among global regulators to monitor capital flows and prevent money laundering or illicit financial activities through digital asset exchanges.
While specific implementation dates have not been finalized, the proposal signals a shift toward more rigorous oversight in Thailand’s crypto market. Industry participants will likely need to adjust their operational procedures to comply with the new custody and transaction volume requirements. The SEC’s focus on self-owned wallets and transaction limits underscores a commitment to fostering a secure and transparent trading environment for retail and institutional investors alike.
