Crypto Exchange Ban in Thailand: What Happened and What It Means for Traders
When Thailand shut down its major crypto exchanges in 2023, it wasn’t just a policy change—it was a full stop to a booming market. The crypto exchange ban in Thailand, a regulatory action by the Securities and Exchange Commission (SEC) of Thailand to force unlicensed platforms offline. Also known as Thailand crypto exchange shutdown, it targeted platforms that failed to register under the country’s new digital asset laws, leaving thousands of retail traders scrambling. This wasn’t a random move. It followed years of unchecked growth, pump-and-dump schemes, and fake token promotions that flooded Thai social media. The government didn’t want to kill crypto—it wanted to clean it up.
Behind the ban were two big entities: Thailand crypto regulation, a legal framework requiring all crypto exchanges to obtain a license, comply with AML rules, and submit daily transaction reports, and digital asset ban, the enforcement mechanism that allowed authorities to freeze assets and block websites of non-compliant platforms. The SEC didn’t just ask for paperwork—they demanded proof of security, user protection, and financial transparency. Exchanges like Bitkub and DigiFinex had to restructure. Others, like smaller unregistered platforms, vanished overnight.
What’s often missed is how this move connects to global trends. Thailand’s crackdown mirrors actions in Kuwait, India, and Australia—places where regulators are shifting from tolerance to control. The crypto exchange ban in Thailand didn’t stop people from trading—it just moved it underground. Many users switched to peer-to-peer platforms or overseas exchanges, but without local support, withdrawals got slower, fees went up, and scams spiked. The government’s goal was to protect small investors, but the result was a trust gap. People still want crypto. They just don’t trust the system anymore.
What you’ll find in the posts below are real stories and data-driven breakdowns of how crypto markets reacted after the ban, what regulators are watching now, and how traders in Southeast Asia are adapting. You’ll see how token scams like Apple Network (ANK) and Beckos (BECKOS) thrived in the gray zone before the crackdown, and how platforms like Bitcratic and KSwap slipped through the cracks. There’s no fluff—just facts on what works, what failed, and what’s next for crypto in regulated markets.
- By Eva van den Bergh
- /
- 3 Nov 2025
Thailand Bans Foreign P2P Crypto Platforms in 2025 Crackdown
Thailand banned foreign P2P crypto platforms in 2025 to stop fraud and money laundering. Only licensed local exchanges are legal now. Users lost access to Bybit, OKX, and others overnight.