Thailand to Block Access to 'Unauthorized' Crypto Platforms
Thailand authorities are planning to block "unauthorized" cryptocurrency platforms to enhance law enforcement's ability to combat online crime. The country's Securities and Exchange Commission (SEC) has been instructed to provide information on these unauthorized digital asset service providers to the Ministry of Digital Economy and Society for access restriction. The SEC will allow users time to manage their accounts before the service becomes inaccessible. Users are urged to withdraw their assets from these platforms promptly. This decision follows similar actions taken by countries like India and the Philippines. Thailand's regulators are trying to balance support for the crypto ecosystem and fraud prevention, allowing certain types of investments while requiring custodians to have contingency plans.
