Thailand Crypto Crackdown: SEC Shuts Exchanges
- Thailand's Securities and Exchange Commission (SEC) announced it will block access to several cryptocurrency platforms, including Bybit, 1000X, CoinEx, OKX, and XT.COM, starting June 28.
- The SEC has filed charges with the Economic Crime Suppression Division (ECD) against the five platforms.
- Following an inquiry, the SEC determined that the websites associated with these platforms were operating without proper authorization.
Thailand’s SEC is taking decisive action, preparing to block access to several crypto platforms, including Bybit and OKX, starting June 28 to protect investors and combat money laundering. The primary_keyword is Thailand crypto crackdown, and the secondary_keyword is digital asset regulations. This move follows charges filed against these platforms for allegedly operating without proper authorization, violating the Digital Asset Business Act. The SEC is urging users to take action with their assets before the block takes effect. News Directory 3 delivers this breaking story to keep you informed on the latest developments in digital finance. Discover what’s next for these platforms and how these regulations may impact your investments.
Thailand SEC Blocks Crypto Platforms to Combat Money Laundering
Updated June 1, 2025
Thailand’s Securities and Exchange Commission (SEC) announced it will block access to several cryptocurrency platforms, including Bybit, 1000X, CoinEx, OKX, and XT.COM, starting June 28. The move is designed to protect investors and prevent these platforms from being used for money laundering by fraudsters.
The SEC has filed charges with the Economic Crime Suppression Division (ECD) against the five platforms. The regulator alleges the crypto platforms are operating digital asset businesses without the required permission under the Digital Asset Business Act B.E. 2561.
Following an inquiry, the SEC determined that the websites associated with these platforms were operating without proper authorization. The platforms stand accused of violating the Digital Asset Act by functioning as unauthorized digital asset business operators. Legal proceedings are underway.
The Ministry of Digital Affairs will block access to the platforms, rendering them inaccessible to the public starting June 28. The SEC advises investors using these platforms to take necessary actions regarding their assets before the closure date.
The SEC reminds the public to exercise caution when using services from unauthorized digital asset business operators, as they are not protected by law and carry a risk of scams and money laundering.
What’s next
The SEC encourages anyone with facts about suspicious activities to report it to the “Complaint and Whistleblowing Center” at 1207, via the ”SEC Office” Facebook page, or through SEC Live Chat on the SEC website for further investigation into digital asset regulations.