The Securities and Exchange Commission of Thailand (SEC) has banned crypto exchanges from offering meme coins and non-fungible tokens (NFTs) on their platforms.
The Thai SEC announced a prohibition on trading meme coins—such as Dogecoin—and non-fungible tokens (NFTs) within the country. As a result, cryptocurrency exchanges operating in Thailand must remove all meme coins from their platforms and discontinue their NFT marketplaces.
The SEC board approved the new regulation over the weekend, and crypto exchanges are now barred from providing services related to certain utility tokens. According to the regulator, the following types of tokens and cryptocurrencies are now prohibited: “(1) Meme tokens: those without clear purpose, substance, or underlying value, whose price is driven by social media trends; (2) Fan tokens: tokens that are effectively ‘tokenized’ by an influencer’s fame; (3) Non-fungible tokens (NFTs).”
The ban also covers digital tokens used in blockchain transactions that are issued by digital asset exchanges or related parties. While the SEC did not name specific tokens, leading meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) will no longer be available to traders and investors in Thailand.
The inclusion of NFTs in the ban is notable given their growing popularity. NFTs have become an important tool for artists and creators to digitize their work and receive payment directly. So far, NFTs have found adoption across the art, music, film, and sports industries.
In addition to the asset restrictions, the Thai SEC introduced regulatory adjustments affecting how crypto exchanges operate. The agency stated: “This new regulatory guideline aims to enhance protection of digital asset investors’ interests. Exchanges must comply with and revise their listing rules in accordance with this notification within 30 days from its effective date.”
Despite these stricter measures, Thailand remains a key cryptocurrency market in Asia.