- Thai SEC to block five crypto exchanges citing legal violations
- Investors urged to withdraw funds before June 28 deadline
- Exchanges face concerns over AML and regulatory non-compliance
The Securities and Exchange Commission (SEC) of Thailand has announced a decisive move to ban five major cryptocurrency exchanges starting June 28, 2025. These platforms—Bybit, OKX, CoinEx, 1000X, and XT.com—are being blocked due to alleged violations of Thai financial laws and anti-money laundering (AML) concerns.
In an official statement, the SEC cited that these exchanges have failed to comply with local regulatory requirements, leading to potential risks for investors and the financial system. The decision marks a firm stance by Thai regulators to tighten control over unregistered and non-compliant crypto operators.
Urgent Withdrawal Notice for Thai Investors
As part of the enforcement measures, the SEC has advised all Thai investors to immediately begin the withdrawal process of their assets from the affected exchanges. They have until June 28 to do so. After that date, access to these platforms will be blocked within the country.
The SEC emphasized that any delays could result in complications, including potential loss of access to funds. It is a crucial step for users to ensure the safety of their digital assets before the shutdown takes effect.
Strengthening Regulatory Oversight
Thailand’s SEC has been increasingly vigilant about crypto regulation in recent years, especially as digital assets gain traction. This ban reflects broader global efforts to enforce transparency, KYC (Know Your Customer) norms, and AML policies across crypto trading platforms.
By targeting international platforms operating without proper licenses or adequate compliance, the Thai government aims to build a safer, more regulated digital economy.
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