Thailand to Block Bybit, OKX by June 2025

SEC Targets Five Exchanges for Unlawful Operations

Thailand’s SEC announced the prohibition as part of a broader regulatory strategy. The block on five exchanges comes after identifying unauthorized operations concerning the Digital Asset Act.

The SEC charges involve breaches of the Digital Asset Business Act B.E. 2561. Effective measures underway aim to prevent access to unlicensed platforms in Thailand.

Concern Grows Over Crypto Users’ Access Post-Ban

The decision to block these exchanges is anticipated to have significant implications for local crypto users. The absence of specific comments from affected exchanges leaves the reaction space open for speculation.

“We are taking these steps to ensure compliance with the Digital Asset Business Act B.E. 2561, as these exchanges have been operating without the necessary permissions.” – Rapee Sucharitakul, Secretary General, Thailand Securities and Exchange Commission. Potential financial impacts remain speculative. Focus remains on investor safety and curbing financial illegalities. The move indicates Thailand’s tightening regulatory grip on digital assets.

Global Patterns in Crypto Exchange Crackdowns

Thailand’s SEC’s actions are consistent with previous efforts to control crypto platforms. Similar crackdowns on unauthorized exchanges have been observed globally.

Industry experts suggest this action could prompt other nations to follow suit. The expert opinion from Kanalcoin indicates a strong trend towards increased regulatory intervention.

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