Thai SEC proposes $148K daily stablecoin deposit, withdrawal caps

Thailand’s SEC has proposed capping stablecoin deposits and withdrawals through crypto businesses at 5 million baht per customer per day, or about $148,000, Cointelegraph reported. The limit would apply separately to deposits and withdrawals at each operator. The proposal also includes a ban on stablecoin deposits and withdrawals via third-party wallets and would require operators to verify whether a wallet belongs to a customer. In addition, Thailand’s SEC plans to mandate Travel Rule compliance by crypto businesses, require the identification of suspicious wallets through blockchain analysis, and compel exchanges to disclose information on market makers.