Thai Crypto Traders will be blocked to access bybit, Coinex, OKX, 1000X and XT.com from June 28, according to a recent message from Thailand’s Securities and Exchange Commission.
The Thai SEC has filed charges against these exchanges to the country’s economic oppression department for economic crime, citing Digital Asset Business Act violations and has requested that the National Ministry of Digital Affairs block access to the platforms.
“Investors are encouraged to immediately secure their assets on these platforms before the impending access restrictions,” SEC advised.
The regulator further emphasized the importance of using licensed platforms to ensure investor protection and prevent unintended participation in criminal activities such as money laundering.
“As a company, we are fully obliged to cooperate with governments and law enforcement authorities to prevent illegal activities such as money laundering,” a OKX spokesman said in a statement to Coindesk.
“We believe that constructive engagement with regulators is crucial to the sustainable development of the digital asset industry.”
Thai authorities announced their intention to block access to unlicensed exchanges in April 2024.
