Home
Cryptocurrency
Cryptocurrency News
Binance Cryptocurrency Exchange Faces Criminal Complaint From Thailand SEC for Operating Without Licence

Binance Cryptocurrency Exchange Faces Criminal Complaint From Thailand SEC for Operating Without Licence

Binance was last week banned in Britain from carrying out regulated activities.

By Reuters | Updated: 2 July 2021 17:49 IST

Binance Cryptocurrency Exchange Faces Criminal Complaint From Thailand SEC for Operating Without Licence

Britain's financial watchdog had barred Binance from carrying out regulated activities in the country

Highlights

In Thailand, only licenced firms are allowed to provide services
The company has said it takes its compliance obligations seriously
It was found that Binance has provided platform services for trading

Thailand's Securities and Exchange Commission (SEC) has filed a criminal complaint against cryptocurrency exchange Binance for operating a digital asset business without a licence, the latest in a growing worldwide crackdown on the platform.

"It was found that Binance has provided platform services for trading or exchanging digital assets via its website..." the SEC said on Friday.

"The aforementioned activities of Binance is liable to operating digital asset business in the category of digital asset exchange without licence."

[Sponsored] Samsung Galaxy S24: The Ultimate Camera Phone With Smarter On-Device AI

In Thailand, only licenced firms are allowed to provide services related to digital asset trading, the country's regulator said.

A Binance spokesperson did not immediately reply to a request for comment.

Britain's financial watchdog had last week barred Binance from carrying out regulated activities in the country.

The company has previously said it takes its compliance obligations seriously and was committed to following regulatory requirements wherever it operates.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.