Thailand’s SEC to block access to Bybit, OKX, CoinEx, 1000X, and XT exchanges

Access to the platforms will be restricted at the end of June

Thailand’s SEC intends to ban the Bybit, OKX, CoinEx, 1000X, and XT exchanges from operating

30.05.2025 - 14:40

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What’s new? Thailand’s Securities and Exchange Commission (SEC) has announced that cryptocurrency trading platforms Bybit, 1000X, CoinEx, OKX, and XT will be banned in the country for unauthorized offering of services to local users through the websites. According to the statement, the move is meant to protect investors and prevent crypto exchanges without licenses from using them for money laundering.

Material by The Block

What else is known? The Ministry of Digital Economy and Society will block local access to platforms on June 28, 2025.

Last April, the SEC announced its plans to restrict access to unlicensed digital asset trading platforms after meeting with the government’s Technology Crime Prevention Committee.

OKX representatives commented as follows:

“OKX is strongly committed to maintaining the highest standards of regulatory compliance and to fostering a safe, transparent, and responsible trading environment. <…> We are fully committed to engaging with governments and law enforcement agencies to prevent illicit activities such as money laundering.”

Kazakhstan’s Vice Minister suggests that crypto regulation should be relaxed to develop the country as a regional crypto hub

The official also noted that mining companies can play a key role in modernizing the country’s energy infrastructure

Against the backdrop of measures to reduce money laundering risks, Thailand plans to issue digital investment tokens worth $150 million in the coming months. The authorities will also allow tourists to use cryptocurrencies to pay for goods and services.

In March, Thailand’s SEC added USDT and USDC to the list of approved cryptocurrencies in addition to BTC, ETH, XRP, and XLM, making it easier for the largest dollar-pegged stablecoins to be listed and traded on local regulated exchanges.

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