Thailand’s Securities and Exchange Commission (SEC) has announced that it will block access to five major cryptocurrency exchanges—Bybit, OKX, CoinEx, 1000X, and XT.COM—for allegedly offering services to Thai users without proper authorization. The regulatory action, effective from June 28, is aimed at protecting local investors and preventing digital asset platforms from being exploited for money laundering.
According to the SEC’s official notice, the enforcement will be carried out in coordination with Thailand’s Economic Crime Suppression Division. The move follows the implementation of the Royal Decree on the Prevention and Suppression of Technological Crime, which came into effect on April 13, 2025, granting Thai authorities greater power to restrict access to unlicensed foreign platforms and apps.
The new decree not only allows the government to block unauthorized exchanges but also imposes stricter penalties for individuals facilitating cybercrime. Thai citizens found guilty of opening or lending their digital asset accounts for illicit activity—commonly referred to as mule accounts—can face up to three years in prison or a fine of 300,000 baht (approximately $9,160).
The crackdown comes amid broader crypto initiatives by Thailand. Earlier this month, the Finance Ministry unveiled plans to issue $150 million worth of investment-grade G-Tokens, digital assets designed to raise public funds as part of the national budget strategy. For more updates on Thailand’s evolving crypto regulations, visit TheCoinInfo.
