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 reporting from CryptoSlate. The measure appears designed to keep stablecoin usage within regulated channels rather than allowing peer-to-peer transfers outside the oversight of Thai authorities.

The distinction matters because stablecoins are typically used for two broad purposes: payments and transfers between parties, and trading or holding as a dollar-like asset. A rule limiting transfers to third-party wallets would narrow the first use case considerably, potentially confining activity to approved platforms or merchant payments rather than open wallet-to-wallet movement.

For market participants, the key question is how the final rules define permitted transfers and which entities qualify as approved counterparties. Thailand has previously taken a structured approach to digital assets, so this proposal fits a pattern of seeking oversight rather than prohibition. What to watch: whether the draft advances unchanged, how exchanges and issuers adapt their products, and whether similar restrictions appear in other jurisdictions weighing stablecoin rules.