Thailand’s SEC Goes After OKX for Unlicensed Crypto Services Case
The post Thailand’s SEC Goes After OKX for Unlicensed Crypto Services Case appeared on BitcoinEthereumNews.com.
Thailand’s SEC files a criminal complaint against OKX for operating a crypto exchange without a proper license. The complaint includes nine individuals who allegedly promoted OKX through various online platforms. Thailand is facing a unique situation in its journey towards the digital era. While the government is actively promoting blockchain-based innovation, its financial authorities are dealing with one of the biggest names in the crypto industry. The Securities and Exchange Commission of Thailand (SEC) has officially filed a criminal complaint against Aux Cayes FinTech Co. Ltd., the operator of the OKX digital asset trading platform, on charges of operating services without an official license. The case involves not only the company but also nine individuals who allegedly helped promote the service in the country. 🔥BREAKING: Thai SEC Files Criminal Complaint Against OKX for Unlicensed Operations. pic.twitter.com/IGIkipoJrL — Pushpendra Singh Digital (@PushpendraTech) March 29, 2025 Through its website and multiple social media channels, including Telegram, X, and Line OpenChat, OKX has been actively serving Thai users since October 15, 2021. Additionally, they take 0.1% of every trade as a transaction fee. Although it appears to be a normal business operation, Thai regulators believe that this is against the Digital Asset Business Act, which has been in force since 2018. The filing of this complaint was immediately followed up by the transfer of the case to the Economic Crimes Division (ECD). Local authorities have emphasized that facilitating unauthorized digital asset trading, regardless of the platform’s popularity or size, is illegal. Thailand Balances Regulation With Its Digital Ambitions On the other hand, this decisive move comes amid Thailand’s efforts to strengthen its position as one of Southeast Asia’s digital economy leaders. The CNF previously reported that Thailand’s TIDC has appointed two key figures, Tekin Salimi and Rushi Manche, as strategic advisors. Both are…
Filed under: News - @ March 30, 2025 6:13 am