The Thai Securities and Exchange Commission has announced that it will block access to unlicensed cryptocurrency exchanges, including Bybit, CoinEx, OKX, 1000X, and XT.com, effective June 28. This decision comes after the regulator filed charges against these platforms for violating the Digital Asset Business Act. The Thai SEC has urged investors to withdraw their assets from these exchanges before the ban takes effect, emphasizing the importance of using licensed platforms to protect investors and prevent illegal activities such as money laundering.
In response, an OKX spokesperson expressed the company's commitment to cooperating with governments and law enforcement agencies to prevent illicit activities. The move is part of Thailand's efforts to regulate the cryptocurrency industry, with authorities having previously announced plans to block unlicensed exchanges in April 2024.