Thailand plans to block access to several popular crypto exchanges due to their lack of licensing for trading services.
Ban on Access to Crypto Exchanges
Platforms such as Bybit, 1000X, CoinEx, OKX, and XT.com have been banned. These exchanges were providing crypto trading services without the necessary licenses.
Reasons for Blockage
According to the Thai SEC, these platforms violated local regulatory norms. 'This measure aims to protect investors and prevent the use of unlicensed digital asset platforms as potential channels for money laundering,' the SEC stated.
Investor Protection Measures
The enforcement will take effect on June 28, 2025, when Thailand’s Ministry of Digital Economy and Society will officially block access to the websites of these exchanges.
Thus, Thailand continues to tighten control over the activities of crypto exchanges, protecting its citizens' investments and ensuring financial transparency within its growing digital asset ecosystem.
