Thailand Cracks Down: Unlicensed Crypto Exchanges Face Ban

Beginning June 28, 2025, Thailand's Securities and Exchange Commission (SEC) will restrict access to several large cryptocurrency exchanges including Bybit, OKX, CoinEx, 1000X, and XT.COM. This move follows revelations that these platforms unlawfully provide services to Thai customers operating without due permission under the Digital Asset Business Act. The Ministry of Digital Economy and Society will put the technical blocks into effect; legal action against the involved exchanges has already started.

Since access will be limited beginning June 28, the SEC has advised Thai users of these sites to take their assets before the upcoming deadline. This action seeks to protect investors and stop illegal activity like money laundering using unapproved exchanges. Following more than a year of regulatory warnings, the crackdown is part of a bigger effort to guarantee that only licensed and compliant exchanges run Thailand.