Thailand banned foreign P2P crypto platforms in 2025 to stop scams and money laundering. Five major exchanges were blocked, and only licensed local platforms are now legal. Here's what it means for users and businesses.
Thailand Crypto Ban: What Really Happened and How People Still Trade
When Thailand cracked down on crypto exchanges in 2018, it wasn’t a full ban—it was a targeted move against crypto exchanges, regulated platforms that let users buy and sell digital assets with fiat currency. The government didn’t outlaw owning Bitcoin or Ethereum. It shut down the storefronts. That’s when Thai traders didn’t quit—they got creative. Peer-to-peer trading, WhatsApp groups, and local OTC desks became the new marketplaces. This isn’t some underground fantasy—it’s everyday life for tens of thousands of people who still trade crypto in Thailand today.
The Thailand crypto ban, a regulatory action targeting licensed exchanges, not individual ownership forced users to shift from centralized platforms to decentralized methods. Wallets like Trust Wallet and MetaMask became essential tools, not just storage devices—they became lifelines. People started using local payment apps like PromptPay to send money directly to sellers, bypassing banks entirely. The P2P crypto Thailand, a network of direct buyer-seller trades using local payment methods scene exploded because it was simple, fast, and didn’t need approval from anyone. No KYC. No delays. Just cash in hand, crypto in wallet.
What’s surprising is how little changed for users. The ban didn’t stop trading—it just moved it off the radar. People still buy Bitcoin to hedge against inflation. They still stake tokens on decentralized networks. They still use Thai baht to trade Dogecoin or Solana through Telegram groups. The government still doesn’t recognize crypto as legal tender, but it also doesn’t arrest people for holding it. The real risk? Getting scammed by fake P2P sellers or using unsecured wallets. That’s why the posts below focus on real experiences: how Thai traders stay safe, what platforms still work, and how to avoid losing money when the rules are unclear. You’ll find stories from people who traded through WhatsApp during bank freezes, guides on setting up cold wallets in Bangkok, and warnings about fake crypto apps pretending to be government-approved. This isn’t about policy debates—it’s about what people actually do when the system says no.