Thailand SEC Proposes $151K Daily Cap on Stablecoin Transfers

The proposed rules would limit each person's one-way stablecoin transfers to about $151,000 per day through verified accounts.

• Thailand's SEC is proposing a daily transfer cap of approximately $151,000 for stablecoins to mitigate risks like money laundering and cybercrime.
• The proposed regulations mandate that all stablecoin deposits and withdrawals must occur through verified accounts, with exemptions for transfers between regulated operators adhering to the Travel Rule.
• This move aligns with a global trend of increased stablecoin regulation and could influence regional standards for digital asset payments.

Topics: Legal regulatory, Jurisdictions, Blockchain usage, 3 1 securities law classification, 2 1 established hubs, 6 1 ethereum evm l 1 s

Tags: #thailandsec #stablecoin #transfercap #moneylaundering #cybercrime #travelrule #digitalassetpayments #regulatoryoversight #aml

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Thailand stablecoin proposal limits third-party transfers

Thailand’s stablecoin proposal would restrict transfers through licensed firms to customers’ own wallets, with daily caps. Comments close September 25.

• Thailand's SEC has proposed new regulations for stablecoin transfers, requiring transfers to and from a customer's own verified wallet.
• The proposal aims to curb risks associated with money laundering and circumvention of international transfer rules, imposing daily caps on transactions.
• These new rules are currently in a public consultation phase, with a separate Travel Rule set to take effect in February 2027.

Topics: Legal regulatory, Jurisdictions, Compliance, Securities law classification, Cross jurisdictional policy, Aml antimoneylaundering

Tags: #thailand #stablecoin #regulation #sec #usdt #transfers #travelrule #moneylaundering #dailycaps

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Tether sued over frozen ‘pig butcher’ coins, 6,600 students get crypto loans: Asia Express

Two Thai businessmen who don’t dispute involvement with a pig butchering scam sue Tether over frozen funds, thousands of Asia students access crypto loans. Asia Express.

• Thai businessmen are suing Tether for freezing $42.4 million in USDT, alleging illegal seizure related to a 'pig butchering' scam.
• Thailand is implementing stricter AML regulations, including the Travel Rule for crypto transfers and considering retail access to overseas crypto derivatives.
• Pencil Finance has facilitated a $1 million on-chain student loan cycle for 6,600 underserved students in Southeast Asia, marking a significant step in blockchain-based lending.

Topics: Jurisdictions, Legal regulatory, Integration with defi, Cross jurisdictional policy, Securities law classification, Rwa collateral lending

Tags: #tether #usdt #pigbutcheringscam #cryptoloans #thailand #aml #travelrule #pencilfinance #southeastasia #tokenization

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Lawmakers discuss measures to ensure banking system safety, support digital economy

Lawmakers on August 9 discussed a draft law amending and supplementing a number of articles of the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering and the Law on Credit Institution.

• Lawmakers are discussing amendments to laws concerning the State Bank of Vietnam, anti-money laundering, and credit institutions to enhance banking system safety and support the digital economy.
• Key proposals include stricter controls on conflicts of interest for banks managing corporate bond collateral and preventing the tying of banking services to product purchases.
• The draft law also addresses crypto-asset service providers, aiming to integrate them into reporting frameworks with clear obligations for customer identification, transaction transparency, and compliance with the Travel Rule.

Topics: Legal regulatory, Jurisdictions, Blockchain usage, Securities law classification, Licensing issuer obligations, Cross jurisdictional policy, Regulatory sandboxes pilots, Non evm chains

Tags: #bankingsystemsafety #digitaleconomy #antimoneylaundering #creditinstitution #corporatebonds #collateralmanagement #investorconfidence #conflictsofinterest #cryptoassets #travelrule

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