Thailand Targets 5 “Unlicensed” Crypto Exchanges, Including Bybit, OKX in Latest Crackdown
The SEC has supposedly submitted their details to the Ministry of Digital Economy and Society, which holds the power to obstruct gain access to under a recently enacted cybercrime law. The SEC explained the upcoming block as a preventive measure to stop the platforms from being misused for rip-offs or cash laundering activities. “In order to safeguard financiers and prevent the use of unauthorized digital asset trading platforms as a means of money laundering by fraudsters, in line with the intention of the Royal Decree on Measures to Prevent and Suppress Technology-Related Criminal Offenses, the SEC has sent the above platform info to the Ministry of Digital Affairs,” the regulator stated. The legislation makes it possible for government firms to block digital infrastructure associated with technology-related offenses, including unregistered cryptocurrency services. Earlier this year, Thailand’s Cabinet approved broader amendments to the nation’s digital asset rules, showing a growing intent to address regulatory gaps surrounding foreign and peer-to-peer crypto providers. Early this year, the SEC announced that it was considering enabling the listing of local Bitcoin exchange-traded funds. The statement came from the regulator’s Secretary-General, who mentioned that the instrument would enable individuals and organizations to invest directly in cryptocurrency.
