Thailand Blocks Bybit & OKX for Unlicensed Operations 🚫
Thailand's Securities and Exchange Commission announced a ban on exchanges like Bybit, 1000X, CoinEx, OKX, and XT due to their unauthorized service offerings to local users. The decision aims to protect investors and prevent money laundering via unauthorized trading platforms. Beginning June 28, 2025, the Ministry of Digital Economy and Society will block access to these platforms in Thailand. Last year, the SEC revealed plans to restrict unlicensed platforms after a meeting focused on combating technology-based crimes. Meanwhile, the country is preparing to launch a $150M investment-grade crypto token promising returns surpassing conventional bank deposits, as part of efforts to reduce money laundering risks in the crypto sector. The Block remains an independent news source, providing timely and objective updates on the crypto industry.
FAQ
❓ Why is Thailand blocking these exchanges?
Thailand is blocking exchanges like Bybit and OKX to protect investors and reduce money laundering risks associated with unlicensed platforms.
❓ When will the access block begin?
The access block on these platforms in Thailand will start on June 28, 2025.
❓ Is Thailand planning any new crypto initiatives?
Yes, Thailand plans to launch a $150 million investment-grade crypto token to offer better returns than traditional bank deposits.