Thailand Intensifies Crackdown on Unlicensed Crypto Exchanges, Targeting 5 Alongside Bybit and OKX

Thailand has escalated its crackdown on unlicensed cryptocurrency exchanges, targeting five platforms in addition to the well-known Bybit and OKX. This move is part of the Thai government’s broader effort to regulate the cryptocurrency market and enhance investor protection. The targeted exchanges are accused of operating without official licenses, exposing traders to fraud and financial losses. This action is part of a wider strategy to curb illegal trading activities and strengthen the regulatory framework governing the cryptocurrency market in Thailand. Thai authorities emphasize their commitment to combating these illegal activities and protecting investor interests. Relevant agencies will continue to closely monitor the market and take necessary actions against any platforms operating without licenses or violating applicable laws and regulations. Thai authorities encourage all traders to exercise caution and only engage with officially licensed platforms to avoid becoming victims of fraud.