Thailand authorities planned to reduce the online crime rates and ordered a ban on illegal and unauthorized crypto exchanges.
Inspired by India and the Philippines, Thailand announced the blocking of crypto exchanges that are operating illegally. The upsurge in online crime rates and using digital assets for fraudulent acts raised the need to block unlicensed crypto exchanges.
Thailand’s Securities and Exchange Commission (SEC) announced the same and warned users to withdraw their assets from unauthorized exchanges.
Thailand’s Plan To Block Crypto Exchange
On April 19, Mrs. Pornanong Busaratrakul, Secretary-General of the SEC, announced the ban on unauthorized crypto exchanges operating in Thailand. The order comes just after the Technology Crime Prevention and Suppression Committee meeting.
Source: Thai SEC News
To enhance the efficiency of regulatory bodies in mitigating online crime issues, Busaratrakul announced the block of unauthorized crypto exchanges. As a s
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