Heads up, Thai crypto fans! Starting June 28, your access to popular exchanges like Bybit, CoinEx, OKX, 1000X, and XT.com is about to get the cold shoulder. The Thai Securities and Exchange Commission (SEC) just dropped the hammer, announcing these platforms will be blocked across the kingdom.
Why the drama? The Thai SEC has slapped charges on these exchanges with the Economic Crime Suppression Division, accusing them of breaking the Digital Asset Business Act. To add some official muscle, the SEC has asked the Ministry of Digital Affairs to pull the plug on access to these sites.
The SEC isn’t just playing watchdog, they’re urging investors to scramble and secure their assets before the digital door shuts.
“Investors are urged to promptly secure their assets on these platforms before the impending access restrictions.”
The SEC warned that once the block hits, there’s no turning back.
Licensed Platforms or Bust
The regulator also hammered home the importance of sticking to licensed crypto platforms. It’s all about keeping investors safe and avoiding accidental brush-ins with shady stuff like money laundering.
OKX chimed in with a statement, saying,
“As a firm, we are fully committed to engaging with governments and law enforcement agencies to prevent illicit activities such as money laundering. We believe that constructive engagement with regulators is essential to the sustainable development of the digital asset industry.”
This move isn’t brand new; Thai authorities announced back in April 2024 that they were gearing up to block unlicensed exchanges. Looks like June 28 is the day that the plan kicks into high gear, so crypto traders, consider this your official heads-up!
Emily Johnson
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