Thailand to block Bybit, OKX and other crypto exchanges on June 28

Thailand's Securities and Exchange Commission (SEC) has ordered a nationwide block on five cryptocurrency exchanges—Bybit, OKX and other—effective June 28, 2025.

The block is due to these platforms operating without valid licenses under Thailand's Digital Asset Business Act, raising concerns about investor protection and potential money laundering activities.

The SEC has filed formal complaints with the Economic Crime Suppression Division and requested the Ministry of Digital Economy and Society to enforce the ban. The regulator has urged investors to withdraw their assets from these platforms before the shutdown date to avoid risks such as scams and legal exposure.

This regulatory action follows the implementation of the Royal Decree on Measures for the Prevention and Suppression of Technology Crimes, effective April 13, 2025, which grants Thai authorities the power to block unauthorized digital asset trading platforms. The move is part of a broader effort to crack down on illegal platforms and enhance crypto market security in Thailand.

While Thailand is tightening oversight on unlicensed exchanges, it is simultaneously taking steps to modernize its financial system and embrace digital assets, such as allowing tourists to spend cryptocurrency and planning digital investment tokens issuance.

Starting June 28, 2025, Bybit, OKX, and other unlicensed crypto exchanges will be blocked in Thailand to protect investors and prevent illicit activities, with authorities emphasizing the need to use licensed platforms for crypto buying/ selling.

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