Thailand’s stablecoin proposal would block transfers to other people’s wallets - CryptoSlate

Thailand's proposed stablecoin framework would restrict holders from transferring tokens to wallets belonging to other individuals, according to reports on the plan. The approach appears designed to keep stablecoin activity within supervised channels rather than allowing free peer-to-peer circulation.

For markets, the detail matters because stablecoins are typically valued for their transferability. A regime that limits movement between personal wallets could reduce their usefulness as a payment or settlement tool, even if issuance and redemption remain permitted. That may shape how issuers, exchanges, and merchants in Thailand design products, and it could influence whether users turn to alternatives.

What to watch is how the proposal develops — whether the restriction applies broadly or only to certain wallet types, how "other people's wallets" is defined, and what compliance duties fall on service providers. The final rules, not the initial outline, will determine the practical impact on Thailand's digital-asset sector and on stablecoin use in the region.