Thailand Proposes Strict Same Owner Rule for Stablecoins

Thailand is exploring a major change to its crypto landscape. The Securities and Exchange Commission recently proposed a rule that would force stablecoin transfers to occur only between accounts held by the same individual. This means users on licensed platforms would no longer be able to send or receive stablecoins from other people's wallets.

Under these proposed guidelines, any deposit or withdrawal processed by a digital asset operator must be verified as belonging to the customer. The SEC suggested these measures to address rising concerns over money laundering, cybercrime, and the evasion of international transfer regulations. The proposal also includes a daily transfer cap of 5 million baht per person.

It is important to note that this is still just a proposal and is not yet law. The measure does not impact peer to peer transfers that happen entirely outside of these regulated platforms. The public consultation period is currently open, and traders should monitor future updates from the SEC to see how these restrictions might change the way they move assets within the country.