The post OKX Operator Faces Legal Action in Thailand appeared on BitcoinEthereumNews.com.

Story Highlights Thai SEC sues OKX for unlicensed crypto trading operations. Nine individuals accused of promoting OKX’s illegal exchange activities. OKX used social media for unapproved crypto trading expansion. Thailand’s Securities and Exchange Commission (SEC) has taken legal action against OKX operator Aux Cayes FinTech Co. Ltd. Thailand’s regulatory agency has taken the company and nine persons to court after they operated an unlicensed digital asset trading platform. Operating a digital asset exchange without a license according to the Emergency Decree on Digital Asset Businesses (2018) constitutes a violation that regulates cryptocurrency transactions in Thailand. SEC Files Case Against OKX and Nine Individuals for Illegal Trading The complaint reached the Economic Crime Suppression Division of Thailand. The trading services provided by OKX to Thai users violate local regulations since the company lacks proper approval to operate in the territory. The exchange platform applied a 0.1% transaction fee alongside active online advertising of its services. The SEC’s investigation showed that OKX started operating its services in Thailand on October 15, 2021. OKX utilized multiple social media networks such as Telegram and X (formerly Twitter) and Line OpenChat group functions to extensively advertise its platforms. The SEC complaint included nine additional defendants apart from the main suspects. Several individuals, according to the SEC, implemented promotional activities for OKX while assisting its market expansion across Thailand. Sarun Boonmesrisanga together with Nut Joongwong and Kritsana Kritsananuwat, constitute the core group of defendants among nine total individuals. The SEC declared promotional work by these individual persons helped boost OKX’s Thai market expansion. The law considers their participation as illegal since they contributed to managing an unlicensed digital asset trading exchange. The SEC states Section 66 of the Emergency Decree together with Section 86 of the Criminal Code encompass these activities. Thai Authorities Warn Against Unlicensed…

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Filed under: News - @ March 29, 2025 3:19 pm