BOT to Regulate Stablecoins, BNPL, High-Value Gold Transactions
Thailand's central bank will introduce five new financial measures between November 2026 and March 2027, including cash payment limits for gold transactions exceeding THB 10 million.
BOT Targets Stablecoins, BNPL, Gold
The Bank of Thailand (BOT) plans to implement new regulatory measures for stablecoins, Buy Now Pay Later (BNPL) services, and high-value gold transactions. Five specific measures are expected between November 2026 and March 2027, according to the Bank of Thailand.
Governor Witai Rattanakorn also indicated a reduction in credit bureau enquiry fees and stricter oversight for money changers. The proposed gold trading restrictions will specifically apply to cash payments that exceed THB 10 million.
This expanded oversight also includes non-bank lenders, payment providers, foreign exchange operators, and asset management companies, reflecting their increasing scale and complexity.
Central Bank Curbs Cash, Supports Debtors
These new plans follow 18 measures introduced by the Bank of Thailand over the past year to manage household debt, improve SME financing, enhance consumer protection, and combat illicit financial activities. The central bank tightened controls on cash transactions of THB 5 million or more.
The Bank of Thailand reported a decline of over 57 percent in the value of cash withdrawals compared with January 2026. Similarly, reporting requirements for physical gold withdrawals exceeding two kilograms per day coincided with a decline of more than 85 percent in such transactions.
Initiatives Boost SME Access to Capital
The Bank of Thailand's debt relief programme, in collaboration with Sukhumvit Asset Management, has addressed more than 182,000 non-performing loan accounts, nearing its target of 200,000 for this year. To support approximately two million debtors, the central bank maintained the minimum credit card repayment rate at 8 percent.
Its SMEs Credit Boost programme has facilitated over THB 80 billion in lending. Additionally, the SMEs Secure Plus initiative allows lenders to consider alternative collateral alongside traditional cash flow assessments. The BOT also plans to launch an SMEs Credit Portal in January 2027 to connect businesses with lenders.
The upcoming regulations signal a more controlled environment for Thailand's digital asset and consumer lending markets, impacting fintech firms offering BNPL or stablecoin services. Gold traders handling large cash transactions will face new compliance requirements from November 2026.
These measures, alongside fee cuts across 19 financial services that save consumers and businesses up to THB 8 billion annually, aim to stabilise the financial system and reduce household debt. Financial institutions and payment providers should prepare for intensified oversight and adjust their operational frameworks to meet the central bank's evolving standards by March 2027.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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