BANGKOK, Thailand – May 30, 2025 – In a significant move to safeguard investors and combat financial crime, Thailand’s Securities and Exchange Commission (SEC) and the Ministry of Digital Economy and Society (MDES) are taking decisive action against several unauthorized digital asset trading platforms. This follows the enforcement of the Emergency Decree on Prevention and Suppression of Technology Crime (No. 2) B.E. 2568 (2025), which became effective on April 13, 2025, empowering the MDES to block access to such platforms.
The SEC’s thorough investigation has identified five platforms operating without the necessary licenses: Bybit.com, 1000x.live, CoinEx, OKX, and XT.COM. These platforms have been found to be providing digital asset trading services in violation of Thailand’s Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). As a result, the SEC has filed a formal complaint with the Economic Crime Suppression Division (ECD) to initiate legal proceedings against these entities.
Critical Deadline for Investors: June 28, 2025
To protect the public and disrupt channels for money laundering, the SEC has provided the MDES with the necessary information to block access to these unauthorized platforms. The MDES will proceed with blocking public access to Bybit.com, 1000x.live, CoinEx, OKX, and XT.COM starting from June 28, 2025.
This impending shutdown carries significant implications for investors currently holding assets on these platforms. The SEC strongly urges all individuals utilizing these identified platforms to take immediate action to manage their assets and consider transferring them to licensed entities before the June 28th deadline. Failure to do so may result in the inability to access or retrieve their funds.
Risks of Unauthorized Platforms and Investor Protection
This proactive measure by Thai authorities underscores the inherent dangers of engaging with unlicensed digital asset business operators. The SEC reiterates its stern warning that investors using such platforms will not be protected by Thai law. These activities expose individuals to significant risks, including:
- Scams and Fraud: Unauthorized platforms are often breeding grounds for fraudulent schemes.
- Money Laundering: These platforms can be exploited by criminals seeking to launder illicit funds, potentially implicating unsuspecting users.
Lack of Legal Recourse: Without regulatory oversight, investors have limited to no legal avenues for redress in case of disputes or losses.
How to Verify Licensed Operators and Report Suspicious Activity
The SEC encourages all investors to exercise extreme caution and diligence when engaging with digital asset services. To ensure you are dealing with a legitimate and regulated entity, please verify the list of licensed digital asset business operators on the SEC’s official website at https://www.sec.or.th or by using the SEC Check First application.
Furthermore, the SEC provides a crucial resource for identifying entities not under its supervision through the Investor Alert section at https://market.sec.or.th/public/idisc/th/InvestorAlert.
Should you encounter any suspicious activity related to digital asset operations, the SEC urges you to report it immediately. You can contact the “Complaint and Whistleblower Center” at 1207, reach out via the Facebook page “สำนักงาน กลต.” (SEC Office), or use the SEC Live Chat feature on the SEC website for a thorough investigation.This development highlights Thailand’s commitment to fostering a secure and regulated digital asset ecosystem. Our firm is closely monitoring these regulatory changes and their implications for digital asset investors and businesses. We advise all clients and the public to remain informed and adhere to regulatory guidelines to protect their investments and avoid potential legal ramifications.