Thailand to Restrict Access to Five Cryptocurrency Exchanges

The Securities and Exchange Commission of Thailand (SEC) announced an impending block on the exchanges Bybit, OKX, CoinEx, XT.com, and 1000X. The regulator cited their operation without the necessary licenses as the reason.

Access to the exchanges’ websites will be restricted by the country’s Ministry of Digital Economy and Society (MDES) starting June 28, 2025. The SEC stated that this is a preventive measure to combat money laundering and protect investors.

The basis for the block is the law on the prevention of technological crimes, effective from April 13, 2025. It allows MDES to block unauthorized digital asset platforms.

The SEC recommended that users withdraw their assets by June 28 and advised checking for licenses of digital asset service providers on the official website of the agency.

In April, the regulated exchange ERX in Thailand launched the licensed platform KuCoin Thailand.

Later, the Commission adopted amendments with additional restrictions for foreign crypto platforms and new requirements, including data collection and blocking of criminal transactions.

In May, the Thai government announced the launch of the digital investment token G-Token. The SEC emphasized that the asset, developed by the Ministry of Finance to cover the budget deficit, cannot be used for payments or transfers.