Algorithmic Ratings & Investment Analysis
©ARIA 2025
by aria-ratings.com
May 30, 2025 at 07:18
Thailand's Regulatory Roadblock: Bybit and OKX Face Ban
Thailand's Securities and Exchange Commission (SEC) announced a ban on popular crypto exchanges, including Bybit and OKX, effective June 28.
The SEC is taking action due to these exchanges operating without the necessary licenses under the Digital Asset Business Act.
Thai authorities have filed charges against the platforms and requested that access to these exchanges be blocked by the Ministry of Digital Affairs.
In light of these developments, the SEC has urged investors to secure their assets on these platforms before the access restrictions take effect.
The regulator has emphasized the importance of conducting transactions through licensed platforms to protect investors from potential risks, including money laundering.
An OKX spokesperson highlighted the company's commitment to cooperate with regulators to combat illicit activities within the crypto space.
Thailand's move reflects a broader trend of governments worldwide increasingly enforcing regulatory compliance in the cryptocurrency sector.
As nations work to create safer trading environments, such measures could have significant implications for exchanges without oversight.
This crackdown is indicative of an evolving regulatory landscape that investors must navigate carefully.
Ultimately, Thailand aims to create a clearer framework for digital asset operations, enhancing the overall integrity of the cryptocurrency market.
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