Thailand to Block Access to Major Crypto Exchanges by June 2025
Thailand's SEC plans to restrict access to several cryptocurrency exchanges, citing legal violations, while the former Prime Minister supports crypto legalization efforts.
The Securities and Exchange Commission (SEC) of Thailand is intending to block access to several cryptocurrency exchanges including Bybit, OKX, CoinEx, and 1000X starting from June 28, 2025. This action follows a press release issued on May 30, 2025, indicating that these platforms have reportedly operated in Thailand without the required licenses.
The SEC is also pursuing legal action against these exchanges due to their lack of authorization. This move aims to safeguard investors and combat fraudulent activities associated with unlicensed trading platforms. The SEC has handed over the details regarding these exchanges to the Ministry of Digital Affairs, which will enforce the access block from the specified date.
Additionally, the SEC has cautioned investors to wind up their dealings on these platforms ahead of the closure date.
The Thailand SEC announced that it will block cryptocurrency exchanges Bybit, 1000X, CoinEx, OKX, and XT platforms on June 28, 2025, and initiate legal proceedings against them for being unlicensed digital asset business operators. — Wu Blockchain (@WuBlockchain) May 30, 2025
In related news, the former Prime Minister of Thailand, Thaksin Shinawatra, has been advocating for a more progressive stance regarding cryptocurrencies, proposing to utilize Bitcoin for settling debts and pushing for a cryptocurrency sandbox project in Phuket to facilitate regulated digital transactions.
Key Takeaways
- Thailand’s SEC is enforcing strict measures against unlicensed cryptocurrency exchanges starting June 28, 2025.
- A new Royal Decree on the Prevention and Suppression of Technological Crime has been enacted to provide authorities with broader powers to restrict access to foreign crypto platforms without licenses.
