Thailand Takes Action Against Unlicensed Crypto Exchanges, Blocking Access to Platforms

Thailand’s Securities and Exchange Commission (SEC) has initiated legal action against five unlicensed crypto exchanges, citing their operation without a license as a means for money laundering. The SEC plans to block access to Bybit, 1000X, CoinEx, OKX, and XT.COM on June 28th, following the submission of information by these platforms to the Ministry of Digital Affairs for further legal action. This move comes amid an effort to safeguard investors from fraud and illicit financial activity within the crypto market in Thailand.