Thailand’s decision to block unlicensed firms was inspired by India and the Philippines, which recently banned all offshore exchanges that failed to comply with local regulatory mandates.
Thai authorities will block unlicensed crypto exchanges from operating in the country to prevent money laundering and other online crimes.
Thailand’s Securities and Exchange Commission (SEC) will submit a list of unlicensed crypto exchanges to the Ministry of Digital Economy and Society.
The order was made public by Thai SEC Secretary-General Pornanong Budsaratragoon after the Technology Crime Prevention and Suppression Committee meeting on April 19.
