Thai SEC Blocks Five Unlicensed Crypto Platforms From June 2025

The Securities and Exchange Commission (SEC) of Thailand has announced a significant regulatory move aimed at curbing money laundering and protecting investors. Effective from June 28, 2025, the SEC will block access to five unlicensed digital asset trading platforms: Bybit, 1000X, CoinEx, OKX, and XT.COM. This decision comes after an investigation revealed that these platforms were suspected of violating the Royal Decree on Digital Asset Business 2018 by operating without the necessary licenses. The case has been transferred to the Economic Crime Suppression Bureau for further legal action.

The SEC's action is part of a broader effort to tighten crypto regulations in Thailand. The regulator has been granted new enforcement powers under the Technology Crime Prevention and Control Decree, which was amended in April 2025. This move underscores the government's commitment to ensuring that digital asset trading platforms comply with local laws and regulations. The Ministry of Digital Economy and Society will implement the network blockade, effectively restricting local access to these platforms.

The SEC's decision to block these platforms is a clear signal to the crypto industry that unlicensed operations will not be tolerated. By taking this step, the regulator aims to protect investors from potential risks associated with unregulated platforms and to prevent these platforms from being used as channels for money laundering. This action is expected to have a significant impact on the operations of these platforms in Thailand, as they will no longer be able to offer their services to local users.

The move by the Thai SEC is part of a global trend of increased regulatory scrutiny on the crypto industry. Governments around the world are taking steps to ensure that digital asset trading platforms operate within the bounds of the law and protect the interests of investors. This regulatory crackdown is likely to continue as more countries seek to establish clear guidelines for the crypto industry. The Thai SEC's action serves as a reminder to crypto platforms that compliance with local regulations is essential for their continued operation.