Thailand’s Crypto Crackdown: Unlicensed Exchanges Face Extinction by 2025

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Thailand’s Crypto Crackdown: Unlicensed Exchanges Face Extinction by 2025

In the dark and tumultuous realm of modern commerce, where greed and desperation intertwine like tragic lovers, the Thai Securities and Exchange Commission—an institution perhaps more haunted by its own shadows than by clarity—has declared war upon five digital specters: Bybit.com, 1000x.live, Coinex, OKX, and XT.COM.

It appears that these platforms, reckless as Dostoevsky’s antiheroes, thrived in the abyss of lawlessness, dancing on the thin line between chaos and order. But now, with a heavy hand and a gaze as stern as a judge’s, the SEC has brought charges before the grim chamber of the Economic Crime Suppression Division (ECD). Their crime? Operating without a license—a mere technicality, but one that signals the end of their fleeting existence under Thailand’s Digital Asset Business Act.

To shield the innocent and to stifle the dark currents of money laundering, the SEC has heroically submitted details of these rogue platforms to the Ministry of Digital Affairs—an institution perhaps as conflicted as Raskolnikov himself. Starting June 28, 2025, access to these digital den of iniquity will be utterly severed, cast into the void like a man condemned to Siberia for the crime of daring to dream of wealth without the chains of legality.

They beseech users—like a priest warning sinners at the brink of hell—to withdraw their assets before the digital gates close, locking in the despair. And in a tone of grave warning, they remind the populace that engaging with such unlicensed ventures is akin to feeding the wolves; no legal shield will protect you, and scam and laundering lurk behind every click, ready to swallow the unwary with a grin of malevolence. 😏💸

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2025-05-30 12:59