Thai Regulators Tighten Crypto Oversight—Unlicensed Exchanges to Be Banned by June 2025

Thailand’s Securities and Exchange Commission (SEC) has taken action against five unauthorized digital asset trading platforms: Bybit.com, 1000x.live, Coinex, OKX, and XT.COM. The SEC has filed charges with the Economic Crime Suppression Division (ECD) for operating without the necessary licenses under Thailand’s Digital Asset Business Act. To protect investors and combat money laundering, the SEC has submitted information about these platforms to the Ministry of Digital Affairs, which will block public access to them starting June 28, 2025. The SEC is urging users of these platforms to withdraw their assets before the blocking date. It also reiterates its warning to the public against using unlicensed digital asset services, emphasizing that such users lack legal protection and face risks of scams and involvement in money laundering schemes. In response to the Thai SEC’s recent announcement about unauthorized digital asset service providers, the platform is actively engaging with regulators for clarity. It assures its Thai users that timely updates will be provided and reaffirms its commitment to maintaining high standards of security, compliance, and service.