This Week in Crypto Asia: Thailand To Restrict Access To Bybit, OKX, CoinEx
Thailand’s Securities and Trading protocol Commission (SEC) plans to restrict access to Bybit, OKX, CoinEx, 1000X, and XT.COM beginning on 28 June 2025. A 30 May 2025 Thai SEC news noted that the move to block these five prominent exchanges stems from accusations that they have been offering services in Thailand without the appropriate license.
Additionally, the Thai SEC is pursuing legal action against the aforementioned unlicensed exchanges. Stricter punishments will also be enforced for those involved in cyber-related crimes via digital asset accounts.
The SEC has indicated that this action aims to safeguard investors and thwart fraudsters from exploiting unauthorized digital asset trading platforms to conduct money laundering activities. “SEC has communicated the details of these platforms to the Ministry of Digital Affairs,” the news mentioned. “The Ministry of Digital Affairs will obstruct access to these platforms, thereby preventing the public from using them starting 28 June 2025.”
The SEC cautioned investors to refrain from utilizing the mentioned platforms and to “consider securing their assets on those platforms before the closure date.”
The Thailand SEC declared it will prohibit cryptocurrency exchanges Bybit, 1000X, CoinEx, OKX, and the XT platforms on June 28, 2025, and initiate legal actions against them for operating as unlicensed digital asset businesses. https://t.co/VeOM7onr3M
— Wu Distributed ledger (@WuBlockchain) May 30, 2025
DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now
Royal Decree on the Prevention and Suppression of Technological Crime
Thailand has recently implemented the Royal Decree on the Prevention and Suppression of Technological Crime, effective from April 13.
This decree empowers Thai authorities to restrict access to websites and applications that provide services to Thai users, specifically targeting foreign digital currency exchanges with questionable licensing.
DISCOVER: 20+ Next Crypto to Explode in 2025
Thailand Update: Former PM Advocates For Crypto Legalization, Suggests Using BTC For Debt Settlement
In contrast to the Thai government’s crackdown on cryptocurrencies, former Prime Minister Thaksin Shinawatra has conveyed a positive outlook on the transformational potential of cryptocurrencies in Thailand’s financial sector.
Recently, Shinawatra urged Thailand’s financial institutions to adopt a more welcoming approach to digital currency, referencing US President Donald Trump’s favorable views towards crypto.
As per local media sources, Thaksin proposed that Thailand should embrace global crypto movements, such as utilizing Bitcoin for debt repayment and exploring Real World Asset (RWA) tokenization, which involves trading blockchain-based digital tokens that signify real physical assets.
In addition, he revealed plans for a digital currency sandbox initiative in Phuket, where BTC transactions would be supervised by the state to minimize potential risks.
Explore: Thailand’s Former PM Advocates For Crypto Legalization, Suggests Using Bitcoin For Debt Settlement
Key Takeaways
-
Thailand’s financial regulators are amplifying their crackdown on unauthorized cryptocurrency exchanges, with the Securities and Trading network Commission (SEC) slated to prohibit access to Bybit, OKX, CoinEx, 1000X, and XT.COM starting June 28.
-
Thailand’s government initiated the Royal Decree on the Prevention and Suppression of Technological Crime, which became effective on April 13. This decree provides authorities with enhanced powers to block websites and applications offering services to Thai users, particularly focusing on foreign crypto exchanges operating without a license.
The post This Week in Crypto Asia: Thailand Will Block Access To Bybit, OKX, CoinEx appeared first on 99Bitcoins.
