Friday, June 6, 2025
No Result
View All Result
The Financial Observer
  • Home
  • Business
  • Economy
  • Stocks
  • Markets
  • Investing
  • Crypto
  • PF
  • Startups
  • Forex
  • Fintech
  • Real Estate
  • Analysis
  • Home
  • Business
  • Economy
  • Stocks
  • Markets
  • Investing
  • Crypto
  • PF
  • Startups
  • Forex
  • Fintech
  • Real Estate
  • Analysis
No Result
View All Result
The Financial Observer
No Result
View All Result
Home Cryptocurrency

Thailand Targets Five “Unlicensed” Crypto Exchanges, Including Bybit, OKX in Latest Crackdown

Thailand Targets Five “Unlicensed” Crypto Exchanges, Including Bybit, OKX in Latest Crackdown
Share on FacebookShare on Twitter


Thailand’s monetary watchdog “will block entry” to
5 unlicensed cryptocurrency exchanges, together with Bybit and OKX, within the
newest effort to curb illicit monetary exercise and defend home
traders. The order, which takes impact on June 28, is
reportedly according to up to date authorized powers granted underneath new cybercrime
laws.

The Workplace of the Securities and Trade Fee of
Thailand (SEC) reportedly investigated and recognized Bybit, 1000X, CoinEx, OKX, and
XT.COM as working digital asset providers with out correct licenses.

Regulator Flags Unauthorized Exercise

The company filed formal complaints towards the
platforms, citing breaches of its laws. The SEC has reportedly submitted
their particulars to the Ministry of Digital Economic system and Society, which holds the
energy to dam entry underneath a just lately enacted cybercrime regulation.

The SEC described the upcoming block as a preventive
measure to cease the platforms from being misused for scams or cash laundering
actions.

Learn extra: SEC Dropped the Lawsuit In opposition to Binance After 2 Years

“As a way to defend traders and forestall the usage of
unauthorized digital asset buying and selling platforms as a method of cash laundering by
fraudsters, according to the intention of the Royal Decree on Measures to
Stop and Suppress Know-how-Associated Crimes, the SEC has submitted the above
platform info to the Ministry of Digital Affairs,” the regulator stated.

The company emphasised that property held on unlicensed
platforms will not be protected underneath Thai regulation, leaving traders uncovered to
potential fraud and authorized threat. It additionally directed the general public to make use of the official SEC
channels to confirm licensed operators and report suspicious actions.

New Guidelines Bolster Regulatory Attain

The crackdown relies on powers granted by the Royal
Decree on Measures for the Prevention and Suppression of Know-how Crimes,
which got here into impact on April 13.

The laws allows authorities companies to dam
digital infrastructure related to technology-related offenses, together with
unregistered cryptocurrency providers.

Earlier this yr, Thailand’s Cupboard permitted broader
amendments to the nation’s digital asset guidelines, reflecting a rising intent to
deal with regulatory gaps surrounding overseas and peer-to-peer crypto suppliers.

Early this yr, the SEC introduced that it was
contemplating permitting the itemizing of native Bitcoin exchange-traded funds.
The announcement got here from the regulator’s Secretary-Basic, who talked about
that the instrument would allow people and establishments to take a position
straight in cryptocurrency.

This text was written by Jared Kirui at www.financemagnates.com.



Source link

Tags: BybitcrackdowncryptoexchangesincludinglatestOKXTargetsThailandUnlicensed
Previous Post

XAU/USD: Elliott wave analysis and forecast for 30.05.25 – 06.06.25

Next Post

30+ June Social Media Prompts to Kick Off Summer

Related Posts

Circle Shares Soar 235% on First Day of NYSE Trading
Cryptocurrency

Circle Shares Soar 235% on First Day of NYSE Trading

June 6, 2025
Crypto Self Custody Is the Future, and People Say Best Wallet Leads the Way
Cryptocurrency

Crypto Self Custody Is the Future, and People Say Best Wallet Leads the Way

June 5, 2025
Bitcoin, BTC, Crypto, Everyday people
Cryptocurrency

Bitcoin, BTC, Crypto, Everyday people

June 6, 2025
Weak US job data print to spark Bitcoin rally to 5K
Cryptocurrency

Weak US job data print to spark Bitcoin rally to $155K

June 5, 2025
Shiba Inu Triangle Formation Puts The Bears In Charge, 20% Crash Could Rock Meme Coin
Cryptocurrency

Shiba Inu Triangle Formation Puts The Bears In Charge, 20% Crash Could Rock Meme Coin

June 3, 2025
Trump’s son confirms team is launching a crypto wallet, denies link to circulating website
Cryptocurrency

Trump’s son confirms team is launching a crypto wallet, denies link to circulating website

June 4, 2025
Next Post
30+ June Social Media Prompts to Kick Off Summer

30+ June Social Media Prompts to Kick Off Summer

The Tobacco Standard in Colonial America

The Tobacco Standard in Colonial America

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Geopolitics Accelerates Emerging Technology In Europe

Geopolitics Accelerates Emerging Technology In Europe

May 9, 2025
20 Undervalued High-Dividend Stocks With P/E Ratios As Low As 3.5

20 Undervalued High-Dividend Stocks With P/E Ratios As Low As 3.5

May 9, 2025
Industrial Report: E-Commerce Drives Industrial Demand Growth

Industrial Report: E-Commerce Drives Industrial Demand Growth

May 10, 2025
DIRTT Environmental Solutions Ltd. (DRTTF) Q1 2025 Earnings Call Transcript

DIRTT Environmental Solutions Ltd. (DRTTF) Q1 2025 Earnings Call Transcript

May 11, 2025
‘1,200 applicants for 2 internships’: CEO warns of ‘demographic disaster’ as India’s job crisis worsens

‘1,200 applicants for 2 internships’: CEO warns of ‘demographic disaster’ as India’s job crisis worsens

February 23, 2025
Deep Dive: Shopify – The Operating System of Commerce

Deep Dive: Shopify – The Operating System of Commerce

May 11, 2025
Energy Holodomor | Mises Institute

Energy Holodomor | Mises Institute

June 6, 2025
Brand new Signalfusin Pro indicator with confirmation alerts. – Trading Systems – 6 June 2025

Brand new Signalfusin Pro indicator with confirmation alerts. – Trading Systems – 6 June 2025

June 6, 2025
EdWeek Market Brief Summit

EdWeek Market Brief Summit

June 6, 2025
Why Most Tech Companies Still Build Contracts Like It’s 1995 (And How to Leap to 2025)

Why Most Tech Companies Still Build Contracts Like It’s 1995 (And How to Leap to 2025)

June 6, 2025
Crystal’s Goals for Summer

Crystal’s Goals for Summer

June 6, 2025
AVGO Infographic: A snapshot of Broadcom’s Q2 2025 earnings report

AVGO Infographic: A snapshot of Broadcom’s Q2 2025 earnings report

June 6, 2025
The Financial Observer

Get the latest financial news, expert analysis, and in-depth reports from The Financial Observer. Stay ahead in the world of finance with up-to-date trends, market insights, and more.

Categories

  • Business
  • Cryptocurrency
  • Economy
  • Fintech
  • Forex
  • Investing
  • Market Analysis
  • Markets
  • Personal Finance
  • Real Estate
  • Startups
  • Stock Market

Latest Posts

  • Energy Holodomor | Mises Institute
  • Brand new Signalfusin Pro indicator with confirmation alerts. – Trading Systems – 6 June 2025
  • EdWeek Market Brief Summit
  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2025 The Financial Observer.
The Financial Observer is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Business
  • Economy
  • Stocks
  • Markets
  • Investing
  • Crypto
  • PF
  • Startups
  • Forex
  • Fintech
  • Real Estate
  • Analysis

Copyright © 2025 The Financial Observer.
The Financial Observer is not responsible for the content of external sites.