Thailand’s financial regulator is taking a firm stance on unlicensed cryptocurrency platforms, announcing that several major exchanges will be blocked by the end of June 2025. This move is aimed at protecting investors and enforcing compliance with Thai digital asset regulations.
Key Crypto Platforms Affected
Starting June 28, Thai users will be blocked from accessing Bybit, OKX, CoinEx, 1000X, and XT.com. These platforms have been charged with violating Thailand’s Digital Asset Business Act, according to the Securities and Exchange Commission (SEC).
The Thai SEC has filed complaints with the Economic Crime Suppression Division and requested the Ministry of Digital Affairs to restrict access to these sites.
Investors Urged to Secure Assets
The SEC has advised all users in Thailand to immediately secure their assets held on the affected platforms.
“Investors are urged to promptly secure their assets on these platforms before the impending access restrictions.”
Failure to do so may result in loss of access to funds, especially after the government imposes full restrictions by the end of June.
Legal and Security Concerns Highlighted
Authorities explained that these exchanges were operating without proper licenses, which raises serious risks, including lack of investor protection and potential involvement in illicit activities.
“The regulator emphasizes the importance of using licensed exchanges to prevent money laundering and protect investor rights.”
The SEC’s actions align with its broader push to regulate the fast-growing digital asset market and maintain financial integrity.
Compliance and Future Outlook
Thai regulators have made it clear that all crypto firms must comply with national laws. They are encouraging both local and international companies to obtain proper licensing before offering services to Thai users.
“We are committed to working with global authorities to prevent financial crimes such as money laundering,” said the regulator in a statement.
Investors are encouraged to switch to platforms officially approved by Thai regulators, which are listed on the SEC’s website, to continue trading safely and legally.
Conclusion
This development marks a significant moment in Thailand’s cryptocurrency landscape. The upcoming ban on unlicensed exchanges is part of a broader regulatory effort to create a secure, transparent, and lawful crypto environment.
Thai crypto users should act before June 28 to safeguard their funds and avoid disruption.