Thailand’s Securities and Exchange Commission (SEC) announced on Thursday that it will prohibit five major cryptocurrency exchanges from operating in the country, citing unauthorized digital asset services offered to local users.
The exchanges affected by the ban include Bybit, 1000X, CoinEx, OKX, and XT.com. According to the Thai SEC, these platforms were found offering crypto trading services without proper authorization, violating local regulatory frameworks.
“This measure aims to protect investors and prevent the use of unlicensed digital asset platforms as potential channels for money laundering,” the Thai SEC said in a statement, translated from Thai.
Enforcement will begin on June 28, 2025, when Thailand’s Ministry of Digital Economy and Society will officially block local access to the five platforms’ websites.
The move reflects Thailand’s tightening stance on unregulated cryptocurrency activity as it seeks to ensure investor protection and financial transparency within its rapidly growing digital asset ecosystem.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/thailand-to-block-access-to-bybit-okx-and-other-crypto-exchanges-over-licensing-violations/