Thailand SEC Orders Shutdown of Five Crypto Exchanges Including Bybit and OKX

The Securities and Exchange Commission (SEC) of Thailand has announced the closure of five cryptocurrency exchanges, including Bybit, OKX, CoinEx, 1000X, and XT. The decision was made due to the platforms operating without proper licenses, with a deadline set for June 28, 2025, to cease operations. In parallel, the authority has initiated legal proceedings against the operators under the Royal Decree on the Prevention of Technological Crime.

This measure is part of a broader regulatory action by Thai authorities, aimed at protecting investors and preventing the unauthorized use of crypto platforms for illegal activities such as money laundering. Thai users will lose access to these platforms after the deadline, which may lead to a shift in trading volumes toward licensed exchanges.

So far, representatives of the affected platforms have not issued public statements. Community reactions reflect concerns about fund withdrawals and the local market impact. The SEC emphasized that its actions target only unlicensed operators and do not affect regulated markets.