Thailand's Central Bank Expands Forex Crackdown to Payment Gateways, 5,000 Yuan Accounts Suspended Since February 2025

According to the Bank of Thailand statement on June 25, the central bank confirmed it has never licensed retail forex trading and is expanding enforcement to include payment gateways and cross-border payment channels. The crackdown follows recent raids by the Department of Special Investigation on an alleged illegal forex network. The central bank said payment gateway operators must verify merchants and monitor transaction behavior, with failures potentially leading to service suspension or license revocation. At least 5,000 accounts used for peer-to-peer yuan transfers through QR codes were suspended between February 2025 and May 2026, indicating enforcement is already underway. Unauthorized forex operators face up to three years imprisonment and fines up to 20,000 baht, while promoters may face 5–10 years imprisonment and fines of 500,000–1,000,000 baht.
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