The Securities and Exchange Commission of Thailand ( SEC ) announced a ban on the exchanges Bybit, 1000X, CoinEx, OKX, and XT for providing illegal services to local users.
This decision aims to protect investors and prevent the use of illegal digital asset trading platforms as a channel for money laundering. The Ministry of Digital Economy and Society of Thailand will block access to these platforms starting from June 28, 2025.
Previously, in April 2024, the SEC of Thailand announced a plan to prevent unlicensed trading platforms after a meeting with the government committee on combating technology crimes. Meanwhile, Thailand is set to issue 150 million USD worth of investment-grade cryptocurrency tokens for the public to purchase, allowing investors to enjoy higher returns than bank deposits, according to Bloomberg quoting Finance Minister Pichai Chunhavajira.
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