Thailand Shuts Down Major Crypto Exchanges: What’s Next for Users?

Thailand has taken a decisive action against unlicensed cryptocurrency exchanges, ordering five major platforms – OKX, Bybit, CoinEx, 1000X, and XT.COM – to cease operations by June 28, 2025. This move is driven by Thailand’s regulatory body, the Securities and Exchange Commission (SEC), in a bid to combat illicit business practices and money laundering concerns. The SEC cited these platforms for operating in the country without necessary licenses under the Royal Decree on Digital Asset Businesses.