Thailand SEC to Block Five Cryptocurrency Exchanges

Thailand’s Securities and Exchange Commission (SEC) will block access to five cryptocurrency exchanges, including Bybit and CoinEx, effective June 28, 2025, due to unlicensed operations targeting Thai users.

Thailand’s regulatory move highlights a significant shift towards stringent oversight of cryptocurrency trading activities to safeguard retail investors. This decision aligns with global trends in regulating digital assets for investor protection.

Exchanges Operated Without Proper Local Licensing

The Thailand SEC determined that exchanges, including Bybit, CoinEx, OKX, and others, operated without proper local licensing. Thailand’s Economic Crime Suppression Division is aiding the SEC’s enforcement actions to block these exchanges from access by Thai users.

Financial impact remains uncertain, but could shift users towards licensed local exchanges. This action is part of Thailand’s aim to prevent illegal money laundering activities and protect investor interests in the digital asset space.

“This measure aims to protect investors and prevent illegal platforms from being used for money laundering by criminals.” — Thailand SEC, Regulatory Authority, Thailand Securities and Exchange Commission

Strengthening Regulatory Framework

Thailand enhances its regulatory framework, using recent anti-cybercrime legislation to enforce strict compliance in its cryptocurrency market. This follows similar regulatory measures in other countries targeting exchanges operating without licenses.

Global Regulatory Trends

Thailand’s regulatory stance on cryptocurrency aligns with global trends, focusing on compliance and investor protection. The long-term impact could lead to a more regulated framework within the country’s digital asset market.

The new anti-cybercrime laws support Thailand’s ability to enforce compliance rapidly. Similar global regulatory actions show that exchanges often withdraw or pursue proper licensing. The Thai market will likely shift towards more regulated trading platforms.

Platform Regulation Focus

The SEC’s decision to target centralized exchanges over individual cryptocurrencies suggests a focus on platform regulation rather than coins themselves. This aims to ensure enhanced oversight and protection against unlicensed activities in the digital sector.