The Thailand Securities and Exchange Commission (SEC) blocked major crypto exchanges to protect investors and also to prevent illegal platforms from turning into money laundering channels. Unlicensed digital asset trading platforms such as Bybit, 1000X, CoinEx, OKX, and XT.COM will be blocked from June 28, 2025, in accordance with the Royal Decree on Technology Crime Prevention and Control 2025 (Version 2), stated the SEC.
The regulatory body found that these five exchanges operating in Thailand were suspected of violating the Royal Decree on Digital Asset Business 2018 and operating without a license, and the case has been transferred to the Economic Crime Suppression Bureau for further investigation. As such, the SEC warned traders using these platforms to take evasive action to protect their assets and recover their assets before the closing date.
With recent amendments in thailand the Royal Decree on Measures for the Prevention and Suppression of Technology Crimes has the authority to bar unlicensed crypto exchanges from functioning in the country.
However, contrasting to these stringent measures, the Ministry of Finance was planning to help its tourists and citizens use their digital assets through a credit card for payments, earlier this year. Sellers would receive their amount with normal currency without being aware it is being paid with crypto.
Similarly, thailand tested a crypto payment program in Phuket where high number of tourists. The Huay Phueng district of Kalasin province embraced Bitcoin payments with open arms, with more than 80 local businesses in the area accepting the cryptocurrency.
