INSUBCONTINENT EXCLUSIVE:
Trading volumes at the exchange in June were $662 billionThailand's monetary guard dog submitted a criminal grievance against
cryptocurrency exchange Binance on Friday for running a digital possession service without a licence, the current in a string of crackdowns
on the platform by regulators internationally
Thailand's Securities and Exchange Commission (SEC) said in a declaration that Binance had actually been operating a digital asset company
in the category of a digital asset exchange without a licence
In Thailand, just certified firms are permitted to provide services related to digital asset trading, the SEC saidThe Commission had
actually warned Binance over its activities in a letter in April but got no reaction, it said, leading it to then submit a criminal problem
A Binance spokesperson declined to comment specifically on the Thai problem, saying it takes a collaborative approach to dealing with
regulators and takes its compliance responsibilities seriously.Britain's monetary watchdog recently barred the company, one of the world's
greatest exchanges, from carrying out regulated activities in the country
Japan's regulator said recently Binance was operating in the country unlawfully, while Germany's guard dog said in April it ran the risk
of being fined for using tokens connected to stocks
In Might, Bloomberg reported Binance was under examination by the U.SJustice Department and Internal Revenue Service
The complaint filed in Thailand by the SEC is the start of a criminal treatment, with an authorities examination potentially leading to a
suggestion to a public attorney who has authority for prosecution, the Commission saidThe offence carries a charge of 2 to five years
imprisonment, a fine of 200,000-500,000 baht ($6,200-15,500), and a further everyday fine of up to 10,000 baht for every single day the
conflict continues, it included
Trading volumes at the exchange in June were $662 billion, up almost ten-fold from July 2020, according to data from CryptoCompare
