Thailand is taking strict regulatory measures against unlicensed cryptocurrency exchanges. This move aims to tackle money laundering and other online criminal activities.

Following recent similar actions by India and the Philippines, the Thai Securities and Exchange Commission (SEC) has announced its plan to block access to crypto exchanges that have not obtained the necessary local licenses. This decision emerged from a meeting of the Technology Crime Prevention and Suppression Committee held on April 19.

The Thai SEC is preparing to provide a list of these unlicensed digital asset service providers to the Ministry of Digital Economy and Society. The country wants to enhance the effectiveness of law enforcement in preventing and addressing cybercrimes linked to crypto transactions.


To safeguard investors, the SEC has issued a warning about the risks associated with using services from unregistered platforms. According to the authorities, these platforms can involve potential scams and bring money laundering activities. Investors should verify the licensing status of crypto platforms using the SEC’s “Check First” application before engaging in any transactions. Notably, major exchanges, like Binance, Coinbase, KuCoin, Kraken, and OKX, currently do not meet the legal requirements to operate in Thailand according to government records.

The SEC has urged investors to withdraw their funds from these unregistered platforms promptly before the enforcement of the ban. This proactive communication aims to minimize the impact on users and give them sufficient time to manage their assets accordingly.

Thailand is working to strike a balance between fostering a thriving crypto environment and protecting its financial system from the risks. While the country allows certain investor classes to engage freely in crypto-related investments, it is also enforcing stringent controls to ensure the integrity and safety of its financial landscape.