Thailand's stablecoin rules, in three questions people keep asking (Thai SEC draft, Nov 12):
Is it one 5M baht cap? No. 5 million baht (about $148K) applies to deposits and, separately, to withdrawals, per customer, per day, at each regulated operator.
Can I still send $USDT to a friend's wallet? Under the draft, no. Deposits and withdrawals must go to or from a wallet verified as yours, and the value must fit your income and financial position.
Who is exempt? Transfers between your own accounts at SEC-supervised operators (if both follow the Travel Rule), operators moving funds in their own names, Bank of Thailand-approved businesses, stablecoin/baht market makers, and approved token subscriptions.
My take: the daily cap matters less than the same-owner wallet rule. That one changes how people actually use stablecoins, and brokers also couldn't use liquidity providers for stablecoin-baht pairs. It's only a draft, and comments close Nov 26.
Which rule would change your habits more, the cap or the own-wallet requirement?
$USDC #Stablecoins #Regulation #Thailand
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