Binance eyes Thailand for latest crypto exchange expansion
Binance has locked in an agreement as Thai government officials expedite crypto regulations which could pave the way for the firm to open a branch in the Kingdom. Binance is looking to re-establish crypto exchange services and possibly open a new branch in Thailand after signing an agreement with Gulf Energy Development PCL.Gulf Energy Development PCL is a Thai holding company run by billionaire Sarath Ratanavadi that focuses on the energy sector.Gulf Energy reportedly made the agreement with the world’s largest crypto exchange based on the strong assumption that Thailand’s digital economy....
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Crypto exchange Binance is launching a new exchange in Thailand after the country’s Securities and Exchange Commission (SEC) filed a complaint against the company for operating without a license. Binance has now signed an agreement with Gulf Energy Development, a Thai public company, to establish a crypto exchange in Thailand.
Binance and Gulf Energy to Establish a Crypto Exchange in Thailand
Gulf Energy Development, a Thai public company, notified the Stock Exchange of Thailand (SET) Monday that its wholly owned subsidiary Gulf Innova has entered into a Memorandum....
A growing number of regulators worldwide have come after Binance. Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the crypto exchange after the authorities in the Cayman Islands, the U.K., and Japan issued similar warnings on Binance and related companies. Thailand’s Regulator Files Criminal Complaint The Thai Securities and Exchange Commission announced Friday that it “has filed a criminal complaint against Binance … with the Economic Crime Suppression Division of the Royal Thai Police (ECD).” According to the SEC:....
Binance’s regulatory troubles grow with Italy being the latest country to issue a warning on the global cryptocurrency exchange. Other countries that have issued similar warnings include the U.K., Japan, Thailand, and the Cayman Islands. Crypto Exchange Binance Unauthorized in Italy Italy’s financial regulator, Commissione Nazionale per le Società e la Borsa (Consob), published a warning on cryptocurrency exchange Binance Thursday. The regulator wrote: Consob warns savers that the companies of the ‘Binance Group’ are not authorized to provide investment....
Former acting Comptroller of the Currency Brian Brooks has resigned as the CEO of Binance U.S. after just over three months. He cited “differences over strategic direction.” Meanwhile, Binance is facing regulatory scrutiny worldwide, including in the U.K., Malaysia, Japan, Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. CEO of Binance US Resigns The CEO of Binance U.S., Brian Brooks, announced Friday on Twitter that he has resigned from Binance. The former acting Comptroller of the Currency and former chief legal officer at cryptocurrency exchange Coinbase tweeted:....
Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims.
Securities Watchdog Adopts Stricter Advertising Rules for Crypto Platforms in Thailand
Thailand’s Securities and Exchange Commission (SEC) has approved new requirements for crypto ads, Bloomberg and Reuters reported quoting the regulator. According to a statement released on Thursday, the changes come after the....