Thailand’s Securities and Exchange Commission (SEC) has announced it will block access to five foreign cryptocurrency exchanges — OKX, Bybit, CoinEx, 1000X, and XT.COM — starting June 28, citing unlicensed operations that violate the country’s Digital Asset Business Act. Legal action will also be taken against these platforms.

This move, grounded in the Royal Decree on the Prevention and Suppression of Technology Crimes (No. 2) B.E. 2568, is intended to protect investors and prevent illegal platforms from being exploited for money laundering.

❌ OKX and Nine Promoters Face Criminal Charges

Earlier, the SEC filed a complaint against OKX’s parent company, Aux Cayes FinTech Co. Ltd., and nine individuals who actively promoted its services in Thai through social media platforms like Telegram, Twitter (now X), and Line.

Investigations revealed that OKX offered crypto exchange services and charged a 0.1% trading fee without holding the required license. Such activities may constitute unauthorized operation of a digital asset exchange under Thai law and are punishable under Section 66 of the Emergency Decree on Digital Assets.

🛑 SEC Urges Investors to Move Funds Before Platforms Are Blocked

The SEC is advising Thai investors to verify whether their crypto platforms are officially licensed and, if necessary, withdraw their assets before access is restricted. Tools such as SEC Check First and Investor Alert are available to help users identify regulated entities.

Suspicious activities can be reported via hotline 1207 or through the SEC’s official Facebook page and live chat system.

🗣 OKX Responds: “We Respect Local Laws and Cooperate with Authorities”

An OKX spokesperson responded to the news, confirming awareness of the SEC's announcement and reaffirming the exchange's strong commitment to regulatory compliance. The company emphasized its cooperation with global regulators to combat illicit activities and maintain a safe, transparent trading environment.



#thailand , #SEC , #Regulation , #OKX , #bybit

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