The Thailand Securities and Exchange Commission (SEC) said Thursday that it will block access to five major cryptocurrency exchanges on June 28, part of a sweeping crackdown aimed at curbing money laundering and protecting retail investors from unauthorized digital asset platforms.
The regulator said that Bybit, 1000X, CoinEx, OKX and XT.COM were found to be operating without a license.
This is “to protect investors and prevent illegal platforms from being used for money laundering by criminals,” the SEC said in a translated statement.
All five platforms have been accused of offering trading services to Thai users without authorization through their websites. As a result, legal action has been initiated with the Economic Crime Suppression Division.
This law empowered the Ministry of Digital Economy and Society to quickly block suspicious websites and platforms. Since then, the government has intensified enforcement. It is now focusing on crypto exchanges that operate outside the country’s legal framework.
The action follows months of increasing regulatory pressure. In response to rising concerns, Thailand passed new anti-cybercrime legislation in April.
It allows retail investors to purchase government bonds. Notably, the $150m issuance marks Thailand’s first attempt at tokenized public fundraising. According to, Jomkwan Kongsakul, deputy secretary-general of the SEC, the G-Token would launch through an approved initial coin offering portal. In this setup, the Finance Ministry will serve as registrar.
This move is part of a wider effort by Thai regulators to clean up the local crypto market. To support this shift, the Ministry of Finance introduced G-Token, a blockchain-based investment token, last month.
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