Thai Regulator to Cancel License of Huobi (Thailand)
Source: David
Fazzaco learned that Thailand's Securities and Exchange Commission (SEC) has recommended the country's Finance Ministry to cancel the license of Huobi (Thailand) Co, a local crypto exchange.
According to the financial regulator, Huobi (Thailand) is accused of failure in fixing system flaws. The exchange is pushed to suspend its services and return clients' funds within the next three months.
Huobi (Thailand) is the Thai affiliate of the global crypto exchange Huobi. The Thai unit gained the mandatory license in July 2019, becoming only of the few crypto exchanges to operate in the country.
Earlier in July, Fazzaco reported that SEC filed a criminal complaint against Binance for illegally offering services in the country.
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