Thai SEC blocks 5 crypto exchanges, including OKX and Bybit
The Thai Securities and Exchange Commission (SEC) will block five cryptocurrency exchanges, including Bybit and OKX, from operating in Thailand starting June 28. This action aims to protect investors and combat illegal platforms associated with money laundering. The SEC advises users to manage their assets before the shutdown. The decision follows a Royal Decree effective April 13, granting the Ministry of Digital Economy and Society (MDES) authority to block unauthorized digital asset platforms. The SEC filed complaints against the exchanges for operating without valid licenses. Users of unlicensed services are warned of potential risks, including scams. Thailand is also exploring cryptocurrency use for tourists and plans to issue $150 million in digital investment tokens for government bonds.
