Thailand is intensifying its crackdown on unlicensed foreign cryptocurrency services, focusing on peer-to-peer (P2P) platforms operating without regulatory approval. Starting this month, authorities will block access to illegal platforms, aiming to protect local investors and maintain the integrity of the country’s digital asset ecosystem.
The Thai Securities and Exchange Commission (SEC) emphasized that only licensed operators are permitted to provide cryptocurrency services, including trading, lending, and custody. The move comes amid increasing concerns over fraud, scams, and unregulated cross-border crypto transactions targeting Thai residents.
To enforce the new measures, the government will work closely with internet service providers to monitor traffic and restrict access to unauthorized platforms. The SEC also warns users to verify the licensing status of any platform before engaging in trading or investment activities.
Industry experts note that while the crackdown may temporarily limit access to some P2P services, it is expected to strengthen investor protection and increase confidence in Thailand’s regulated crypto market over time. Some analysts believe this approach could also encourage more international platforms to obtain proper licensing to operate legally in the country.
Investors are advised to remain vigilant and only use officially approved platforms to minimize risk. The Thai SEC has pledged to continue monitoring the digital asset space and to update regulations as needed to respond to emerging threats and market developments.
