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

- Thailand's SEC looked at stablecoin volume, saw a money-laundering ghost under every hash manifest, and decided the fix is banning transfers to anyone else's wallet. USDT in, USDT out — but only between your own accounts, verified, income-consistent, capped at 5 million baht a day. Sending your mom cab fare? Blocked at the relay window. Even the SEC admits it's still consultation until Sept 25, 2026 — a rule that bans the entire point of a stablecoin, currently in draft form. It's still a draft with no effective date, but the direction is obvious: they've turned a settlement tool into a sealed cargo container with your name on it. Where's my cut? Not from this stack — licensed operators get the waiver, meat wallets get the gate.