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Thailand to Block Unlicensed Crypto Exchanges Including OKX and Bybit from June 28

Thailand to Block Unlicensed Crypto Exchanges Including OKX and Bybit from June 28

Do Min Yung by Do Min Yung
May 30, 2025
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The Securities and Exchange Commission (SEC) of Thailand has announced a significant regulatory action against five major cryptocurrency exchanges : OKX, Bybit, CoinEx, 1000X, and XT.com for operating without proper licenses under the country’s Digital Asset Business Act. Effective June 28, 2025, access to these platforms will be officially blocked within Thailand.

This move is part of Thailand’s broader efforts to safeguard investors and ensure compliance with anti-money laundering standards. The SEC has filed formal charges against the aforementioned exchanges and has requested the Ministry of Digital Affairs to enforce the restrictions. Investors are strongly advised to withdraw their funds and close accounts on these platforms before the enforcement date to avoid potential losses or complications.

The action underscores Thailand’s commitment to maintaining a well-regulated digital asset ecosystem. By targeting unlicensed exchanges, the SEC aims to protect investors and uphold the integrity of the financial system. This development serves as a reminder to both domestic and international players that operating within Thailand’s crypto market requires full compliance with local regulations.

As the country continues to develop its digital economy, only fully licensed platforms will be permitted to operate, reinforcing Thailand’s position on security and investor protection in the rapidly evolving crypto landscape.

Tags: CryptoExchangesThailand

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