The post Binance Facing Obstacles to Launch in Thailand! appeared first on Coinpedia Fintech News

Binance is launching a new digital asset platform in Thailand in partnership with Gulf Energy Development Pcl, owned by billionaire Sarath Ratanavadi. However, Binance’s recent guilty plea for US anti-money laundering and sanctions violations has raised concerns. Sarath expressed confidence in Binance’s product offering, systems, and security, stating that the company wasn’t accused of crimes such as fraud or misuse of customer funds in the US settlement. The joint venture is expected to launch in January but faces obstacles such as reduced demand for cryptocurrencies following last year’s rout and bankruptcies like FTX. Some Thai businesses are still backing a revival for crypto, with Kasikornbank Pcl acquiring a licensed crypto exchange operator last month.

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Filed under: Bitcoin - @ November 29, 2023 8:08 am