Thailand SEC Blocks Major Crypto Exchanges: Implications for Users and Market

The Thai Securities Exchange Commission (SEC) has announced the blocking of international cryptocurrency exchanges, Bybit, OKX, CoinEx, 1000X, and XT. Effective June 28th, 2024, these platforms will be inaccessible to users in Thailand due to their lack of digital asset business licenses. This decision reflects a growing trend of increased regulation and stricter oversight for crypto exchanges globally. The SEC cited the operators’ failure to obtain the necessary licenses as the reason for this action.