Fun

Binance to Launch New Cryptocurrency Exchange in Thailand After Thai SEC Filed Criminal Complaint

News Feed - 2022-01-19 09:01:47

Binance to Launch New Cryptocurrency Exchange in Thailand After Thai SEC Filed Criminal Complaint


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 of Understanding with Binance Group “to jointly study avenues for the development of digital asset exchange and related business in Thailand.”


The company added that it “foresees rapid growth in digital infrastructure in Thailand as the economy increasingly becomes driven by innovation and technology, with digital assets and related technology playing a prominent role in improving efficiency of financial infrastructure in the country to meet the increasing demand of Thai people.”


Gulf Energy detailed: As such, the company’s partnership with Binance will help Thailand advance its development of digital assets and blockchain infrastructure.


Binance recently got into trouble with the Thai SEC. The securities watchdog announced in July last year 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 operated a crypto exchange business without a license, therefore the company is “liable to criminal sanction.” Tags in this story Binance, binance bangkok, binance crypto exchange, binance thailand, binance thailand crypto, Gulf Energy, Gulf Energy binance, Gulf Energy crypto exchange


What do you think about Binance launching a crypto exchange in Thailand with the help of a regulated company? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Crypto Exchange Bitfinex Stops Servicing Ontario Customers, Asks Users to Withdraw Funds EXCHANGES | 3 days ago Coinbase Acquires Fairx Exchange to Make Derivatives Market Approachable for Millions of Retail Customers EXCHANGES | 5 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleHeavyweight Champ Francis Ngannou Plans to ‘Take Half of His UFC 270 Purse Paid in Bitcoin’ Next articleUK to Tighten Rules on Crypto Ads to Ensure They’re Fair, Clear, Not Misleading Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRevolut Launches Banking Services in Spain Featuring Deposit Insurance


Revolut, a leading fintech platform and neobank, has received a special banking license to operate in Spain. User deposits are now insured up to €100K, with the coverage being provided by Deposit and Investment Insurance, a Lithuanian state company. The ... read more.NYCB and Group of Banks Join to Launch USDF Stablecoin Survey: Proportion of South African Crypto Holders Grows to 11.3%, 56% of Crypto Owners Hold Bitcoin FTX Launches $2 Billion Venture Capital Fund Focused on Bolstering Blockchain, Web3 Adoption British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated

News Feed

Ethereum will outperform Bitcoin after ETF launch — K33 Research
Tom Mitchelhill7 hours agoEthereum will outperform Bitcoin after ETF launch — K33 ResearchThe price of Ethereum could be bolstered by inflows into upcoming U.S.-based spot Ether ETFs, while Bitcoin faces headwinds from
Ethereum Price At $10,000: Symmetrical Triangle Breakout Predicts Big Gains
Este artículo también está disponible en español. The Ethereum priceis signaling a potential breakout based on recent price movements. According to Trader Tardigrade, a c
Martin Young4 hours agoPoly Network urges users to withdraw after exploit affects 57 crypto assetsThe Poly Network has been exploited again, this time due to compromised private keys, according to blockchain security fir
Arrested Binance exec pleads not guilty to charges in Nigeria
Helen Partz11 hours agoArrested Binance exec pleads not guilty to charges in NigeriaA Nigerian court rejected Tigran Gambaryan’s defense argument and ruled that he acted as Binance’s representative in past trips to N
Biggest Movers: UNI Drops to 1-Week Low, While FIL Extends Recent Declines
Biggest Movers: UNI Drops to 1-Week Low, While FIL Extends Recent Declines Uniswap moved to a one-week low on Tuesday, as crypto markets were mostly in the red during today’
Crypto Companies Establish Presence, Hire Talent in Ireland
Crypto Companies Establish Presence, Hire Talent in Ireland With a friendly attitude towards financial innovation, the Republic of Ireland has become a desired d
AssangeDAO’s crypto activities suspicious, analysts urge caution
Amaka Nwaokocha11 hours agoAssangeDAO’s crypto activities suspicious, analysts urge cautionSlowMist urges transparent DAO operations amid recent transfers, sparking questions about fund destinations.767 Total views1 To
HTC Unveils Privacy Protecting 5G Router, Pundi X Finalizes Blockchain Phone Prototype
HTC Unveils Privacy Protecting 5G Router, Pundi X Finalizes Blockchain Phone Prototype Product announcements in the mobile and internet communications sector have indicated that
Bitcoin Realized Price Moves Further Away From Market Value – Bearish Signal Or Not?
Este artículo también está disponible en español. Bitcoin declined by 1.83% in the past week pushing its market price to below $97,000. Despite this loss, market sentimen
Derek Andersen3 hours agoUK stablecoin regulation begins to take shape in multiple FCA, BOE documentsIt’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators
IMF: We Need a Lot More Work Done on Crypto Regulation
IMF: We Need a Lot More Work Done on Crypto Regulation The International Monetary Fund (IMF) says a lot more work needs to be done on crypto regulation. “We’ve certai
China’s Crackdown Spurs Massive Onchain Transfers, Cold Wallets Move $3 Billion in Bitcoin and 800K Ether
China"s Crackdown Spurs Massive Onchain Transfers, Cold Wallets Move $3 Billion in Bitcoin and 800K Ether Following the latest statements from China’s central bank concernin