THAILAND PROPOSES PAYING YOURSELF

The real news

The story, straight

Stablecoins are digital tokens designed to track currencies such as the dollar. A wallet holds those tokens; an exchange lets customers trade them and move them into or out of their accounts.

Thailand's securities regulator proposes tightening that exchange doorway. According to The Block's November 13 report, customers at licensed operators could deposit up to 5 million baht daily and separately withdraw up to 5 million baht daily, per operator.

The Block puts that at roughly $148,000 each way.

The glorious catch: transfers through those venues would have to involve wallets verified as the customer's own. Lil'meme's payment conveyor now loops straight back into his other hand.

Finally, a financial relationship where he knows exactly who ate the restaurant leftovers.

This is a draft, not law. Public comments close November 26.

Direct wallet-to-wallet transfers outside registered platforms are not covered.

Certain transfers would be exempt from the cap, including qualifying movements between customers' own regulated accounts, operators' business transfers, market-maker activity and specified token-offering transactions.

The regulator says the measures target money laundering, cybercrime and evasion of international transfer rules. That is its stated purpose, not proof the proposal will work.

The useful distinction: this would restrict the licensed exchange counter, not every stablecoin transfer in Thailand. Check the doorway before assuming the whole road is closed.

Repost so my other pocket can read this too.

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