The Securities and Exchange Commission (SEC) of Thailand has declared a significant regulatory action against cryptocurrency exchanges that do not have a license.
On June 28, 2025, the country will prohibit the operation of platforms including Bybit, 1000X, CoinEx, OKX, and XT.COM.
According to the recently revised Royal Decree on Technology Crime Prevention and Control 2025 (Version 2), which gives authorities more authority to execute laws pertaining to digital assets, the action is correct.
Thai SEC Finds Major Exchanges Violated Licensing Rules
According to the SEC, an investigation found that these exchanges were operating in violation of Thailand’s 2018 Royal Decree on Digital Asset Business by operating without the necessary licenses.
The Economic Crime Suppression Bureau has now been tasked with taking additional legal action on the case.
According to the Thai government, the campaign aims to keep illicit platforms from being used for financial crimes like money laundering while also shielding investors from unregulated and potentially dangerous platforms.
The government’s larger initiatives to improve control of the digital asset industry are followed by this most recent enforcement action.
Thailand implemented new regulations under the Technology Crime Prevention and Control Decree in April 2025, giving authorities more power to look into and quickly shut down violators.
Also Read: Thailand To Issue 5 Billion Baht Digital Investment Token In Two Months
Thai SEC Urges Investors to Exit Unlicensed Crypto Platforms by June 28
Investors utilizing unlicensed cryptocurrency platforms such as Bybit and OKX have been encouraged by Thailand’s Securities and Exchange Commission to take immediate action to protect their investments before access is barred on June 28, 2025.
Users of these platforms are at greater risk of fraud and are not protected by Thai law, the regulator cautioned. Scams may target investors, or they may unwittingly facilitate illicit money transfers.
By stressing the lack of legal remedy in the event of loss or theft, the SEC underlined the risks of using services from digital asset operators that do not have the necessary licenses.
As Thailand’s regulations on cryptocurrency enterprises become more stringent, the warning is a part of larger public safety initiatives.
Also Read: Thailand’s SEC Strengthens Crypto Regulations Against Money Laundering
Thailand Intensifies Crypto Crackdown with Tougher Laws and Enforcement
The new steps come as Thailand is stepping up its efforts to combat illicit activity and money laundering related to cryptocurrencies by enforcing harsher laws and increasing its enforcement capabilities.
The Digital Asset Business Act and the Technology Crime Prevention and Suppression Act were amended in April 2025, giving authorities the authority to freeze suspicious assets for up to 180 days and shut unlicensed sites.
To bring digital asset companies into line with traditional financial institutions, the Thai SEC now mandates that they keep an eye on and report any questionable activities.
Additionally, there is now a centralized blacklist of wallets connected to crimes. People who are caught aiding illicit cryptocurrency transactions risk fines of up to 300,000 baht or three years in prison.
These steps demonstrate Thailand’s dedication to protecting its financial system and preventing the abuse of digital assets.
Also Read: Thailand’s SEC Files Criminal Complaint Against OKX Operator for Unlicensed Crypto Services