7 minute read
Is MEXC Legal in Thailand? What You Need to Know
from MEXC
by Exness_India
If you're living in Thailand or planning to invest in cryptocurrency there, you've probably wondered: Is MEXC legal in Thailand? The short and straightforward answer is no — MEXC is not currently licensed or legally authorized to operate as a digital asset exchange in Thailand. This means Thai residents using MEXC may be doing so in a legal gray area, and there are real risks involved.
In this article, we’ll explain exactly why MEXC is not legal in Thailand, what the Thai law says about crypto exchanges, what the risks are for users, and what your legal alternatives are if you want to trade crypto safely.
✅ Trade with MEXC now: Open An Account 👈
What Is MEXC?
MEXC (formerly MXC Exchange) is a global cryptocurrency exchange founded in 2018. It offers a wide range of services including spot trading, futures, staking, and launchpad access. The platform is known for listing many low-cap altcoins before they appear on larger exchanges, attracting both retail traders and professional investors looking for high-risk, high-reward opportunities.
MEXC operates internationally but is not licensed in every country it serves. And that’s where the issue begins when it comes to Thailand.
What Do Thai Laws Say About Crypto Exchanges?
Thailand has one of the most developed regulatory frameworks for digital assets in Southeast Asia. In 2018, the Thai government introduced the Emergency Decree on Digital Asset Businesses, which requires any entity dealing in cryptocurrencies (exchanges, brokers, dealers, ICO portals) to obtain a license from the Securities and Exchange Commission of Thailand (SEC Thailand).
Only companies that receive this license can legally offer crypto services to Thai residents. Operating without a license is a violation of Thai law and may result in criminal penalties.
As of 2025, the list of licensed digital asset exchanges in Thailand includes:
· Bitkub Online Co., Ltd.
· Satang Corporation Co., Ltd.
· Zipmex Company Limited (currently suspended but still licensed)
· Upbit Thailand Co., Ltd.
· Bitazza Co., Ltd.
MEXC is not on this list. It has never applied for nor received a license from the Thai SEC.
Has the Thai SEC Taken Action Against MEXC?
Yes. In October 2023, the Thai SEC issued a public warning against MEXC, explicitly stating that the exchange was operating without a license and not authorized to provide services to Thai users.
The regulator urged investors to avoid using MEXC and other unlicensed platforms, warning that:
“Investors using unlicensed platforms will not be protected under Thai law. In the event of a dispute, the SEC and relevant agencies cannot assist.”
This warning made it clear that MEXC is not a legally recognized platform in Thailand.
Can You Still Access MEXC in Thailand?
Technically, yes. The MEXC website is not geo-blocked in Thailand, and many users continue to access it using Thai IP addresses or even VPNs. The exchange allows Thai residents to register accounts, deposit funds, and trade without conducting Know Your Customer (KYC) in many cases.
However, just because access is possible doesn't mean it’s legal. The act of providing crypto exchange services to Thai residents without proper authorization is what makes MEXC’s presence in Thailand illegal, even if it’s done digitally.
From a user's perspective, this means using MEXC while residing in Thailand is considered non-compliant with Thai regulations.
✅ Trade with MEXC now: Open An Account 👈
What Are the Risks of Using MEXC in Thailand?
Here are the key risks you need to be aware of:
1. Legal Risks
As a user, you’re not likely to be prosecuted simply for using MEXC. Thai regulators tend to focus enforcement on companies rather than individuals. However, if a dispute arises (for example, loss of funds, frozen withdrawals), you will have no legal recourse. The SEC cannot protect you, and Thai courts are unlikely to assist in recovering funds from a foreign, unlicensed exchange.
2. Financial Risk
MEXC operates outside of Thailand’s regulatory oversight. That means if the platform suffers a security breach, exit scam, or suddenly suspends withdrawals (as has happened with some global exchanges in the past), your funds may be unrecoverable.
3. Account Suspension or KYC Crackdown
Many global exchanges have increased their KYC enforcement over the past few years due to international regulations (like the FATF’s travel rule). If MEXC decides to enforce stricter identity checks, and you’re unable to verify your identity according to their requirements, your funds could be frozen.
4. Tax Implications
Thailand requires residents to pay tax on crypto income, including capital gains. If you're trading through an unlicensed exchange, it becomes much harder to properly report your income. This could put you at odds with the Revenue Department, especially if you try to move large amounts of crypto into your Thai bank accounts.
Is It Illegal for MEXC to Operate in Thailand, or for You to Use It?
To be precise:
· It is illegal for MEXC to offer services to Thai residents without a license.
· It is not explicitly illegal for users to access MEXC, but it is highly discouraged by Thai regulators, and users will not be protected in the event of problems.
So while you may not face legal punishment for using MEXC as an individual, you are still exposing yourself to unnecessary risk.
Are There Safer Alternatives to MEXC in Thailand?
Yes, absolutely. If you’re looking for exchanges that are legally compliant and supervised by Thai authorities, here are your best options:
1. Bitkub
The largest licensed exchange in Thailand. Supports Thai baht deposits and withdrawals, offers a wide range of coins, and is integrated with Thai banks.
2. Upbit Thailand
A branch of the well-known Korean exchange Upbit. Regulated and trusted, with a clean user interface.
3. Bitazza
A local platform with good UX and a focus on crypto payments. Fully licensed and integrated with the Thai financial system.
4. Satang
Offers both a retail trading platform and crypto payment services. Ideal for merchants and traders who want Thai-based custody solutions.
These exchanges are fully compliant with Thai laws, support Thai baht (THB) transactions, and offer investor protection under local regulations.
Why Do People Still Use MEXC in Thailand?
Despite the risks, many Thai users still turn to MEXC for a few reasons:
· Access to small-cap altcoins not available on Thai exchanges
· Low trading fees and frequent promotional bonuses
· Leverage trading, which is limited or unavailable on Thai platforms
· No strict KYC, allowing more anonymity
However, convenience and access come at the cost of regulatory risk and user protection.
If your goal is long-term investing or active trading with peace of mind, local licensed platforms are a safer bet.
Will MEXC Ever Become Legal in Thailand?
It’s possible, but as of now, there’s no public indication that MEXC has applied for or intends to pursue a license in Thailand. Getting licensed requires meeting strict criteria for custody, anti-money laundering (AML), KYC compliance, capital reserves, and reporting. Not all global exchanges are willing to adapt their infrastructure to meet these standards.
Until MEXC obtains a license from the Thai SEC, it will remain an unauthorized platform in the eyes of the law.
Final Verdict: Should You Use MEXC in Thailand?
Let’s go back to the original question: Is MEXC legal in Thailand?
No, it is not legal. MEXC operates without a license and has been publicly warned against by the Thai SEC.
Can you access MEXC from Thailand? Yes, technically. But you do so at your own risk.
If you're a Thai resident, you should strongly consider using licensed exchanges like Bitkub, Upbit Thailand, or Bitazza to ensure legal compliance, investor protection, and peace of mind.
In the fast-changing world of crypto, compliance matters more than ever — especially in a regulated country like Thailand.
✅ Trade with MEXC now: Open An Account 👈
Read more:
