Thailand Orders Shutdown of 5 Crypto Exchanges Over Regulatory Violations

Thailand’s Securities and Exchange Commission (SEC) has moved to shut down five cryptocurrency exchanges operating without licenses, marking a significant escalation in the country’s crackdown on unregulated digital asset platforms. The enforcement action aims to combat money laundering and protect investors from potential fraud.

The affected platforms, which were offering services to Thai users in violation of the Digital Asset Business Act, now face charges filed with the Economic Crime Suppression Division. ’Investors using these platforms won’t receive legal protection and risk exposure to scams,’ the SEC warned, emphasizing the money laundering risks posed by unauthorized operators.

Technical restrictions blocking access to the exchanges will take effect June 28, 2025, with regulators urging users to withdraw assets before the deadline. The decision follows April deliberations by Thailand’s anti-financial crime authorities, reflecting growing regulatory scrutiny across Southeast Asia’s crypto markets.