Thailand Implements Measures to Block Unauthorised Crypto Platforms Amid Rising Online Crime Concerns

Thai authorities have recently announced their decision to block access to "unauthorised" cryptocurrency platforms, with the aim of enhancing law enforcement effectiveness against online crime. The Securities and Exchange Commission (SEC) of Thailand has been instructed to identify and provide information on unauthorised digital asset service providers to the Ministry of Digital Economy and Society for access blocking. Users have been urged to swiftly withdraw their assets from these platforms. This move aligns with similar actions taken by other countries like India and the Philippines. Thailand has been striving to strike a balance between supporting the cryptocurrency ecosystem and preventing fraudulent activities, allowing institutional investors and high-net-worth individuals to invest in crypto exchange-traded funds while ensuring regulatory measures are in place to safeguard investors.