Thailand’s Securities and Exchange Commission has proposed a new draft framework for stablecoin activity on licensed crypto platforms, according to Cryptoslate. Under the proposal, customers would only be allowed to deposit or withdraw stablecoins to and from accounts or wallets that have been verified as their own. Transfers of stablecoins to third-party wallets would be barred under the draft. The proposal also sets a daily cap of 5 million Thai baht, or about $150,000, for both inbound and outbound transactions per person on each platform. The measure is not in force yet and remains in the public consultation stage. Feedback will be accepted until Sept. 25. The reported draft focuses on transaction controls for licensed operators and would apply at the platform level, with the daily limit calculated per user, per platform, for both inflows and outflows.
Thailand’s Securities and Exchange Commission has proposed draft rules for stablecoins that would apply to licensed crypto platforms, according to Cryptoslate.
Under the proposal, customers would only be allowed to deposit or withdraw stablecoins to and from accounts or wallets verified as their own. Transfers to third-party wallets would be prohibited.
The draft also sets a daily limit of 5 million Thai baht, or about $150,000, for both inbound and outbound transactions per person on each platform. The proposal is still under public consultation and has not taken effect. The comment period runs until Sept. 25.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
