OKX in Hot Water: Thai SEC Files Charges for Unauthorized Operations

The Thai Securities and Exchange Commission (SEC) has filed a criminal complaint against crypto exchange OKX, accusing the platform of operating in Thailand without the necessary licenses — a move that marks yet another escalation in the country’s tightening grip on digital asset regulation.

According to the SEC’s official statement, OKX allegedly provided crypto trading services to Thai residents without obtaining approval or registering with Thai authorities — a direct violation of the country’s Digital Asset Business Emergency Decree. The complaint has been submitted to the Economic Crime Suppression Division (ECD), kicking off potential criminal proceedings.

The regulator emphasized that OKX was warned previously to cease operations targeting Thai users, but the platform allegedly failed to comply. While the SEC did not specify how long the exchange had been operating without authorization, it claimed that OKX was promoting its services and onboarding Thai users through online channels — all without a local license.

This move underscores Thailand’s growing enforcement of crypto regulations, following recent actions against other global platforms. The SEC has been ramping up its oversight, aiming to ensure that any entity offering digital asset services to Thai nationals does so within the framework of established laws.

OKX has yet to release an official statement on the matter.

Thailand, like many countries in the region, is walking a fine line between embracing innovation and enforcing financial safeguards. But the message from regulators is becoming clearer: operate legally or face consequences.

The complaint against OKX could lead to fines, restrictions, or even criminal prosecution — depending on how the case unfolds.

As regulators tighten their grip worldwide, the clash between centralized exchanges and sovereign law is becoming a familiar refrain. In this round, Thailand has landed a strong regulatory punch.