worldcoinindex.com
Thailand’s Securities and Exchange Commission (SEC) is taking decisive action against unlicensed crypto exchanges, announcing that five major platforms — OKX, Bybit, CoinEx, 1000X, and XT — will be restricted from operating in the country starting June 28, 2025.
The ban comes as part of a broader campaign to curb illicit financial activity within the digital asset space. According to the SEC, these platforms were found to be providing services to Thai users without proper authorization, posing potential risks for money laundering and investor harm. In a translated statement, the regulator emphasized its intent to "protect investors and stop the use of unauthorized digital asset trading platforms as a money laundering channel."
The Ministry of Digital Economy and Society has been tasked with enforcing the access ban. Thai authorities had already flagged this direction in April 2024, after a key meeting on combating cybercrime and financial fraud. The upcoming restrictions are seen as a continuation of that initiative.
Responding to the move, OKX reiterated its commitment to compliance and regulatory collaboration. "We respect the legal frameworks of applicable jurisdictions and work proactively with regulators around the world," the exchange said in a statement.
Meanwhile, Thailand is also taking steps to provide more legitimate investment channels in the crypto space. The country is preparing to issue an investment-grade digital token worth around $150 million, which would offer returns higher than traditional bank deposits. This initiative, led by Finance Minister Pichai Chunhavajira, reflects the government’s parallel effort to balance regulation with innovation in the blockchain sector.
As the deadline approaches, users in Thailand may have to reevaluate their crypto trading options — and exchanges will need to either seek proper licensing or risk losing access to one of Southeast Asia’s growing markets.