Information update spot



Binance to Launch New Cryptocurrency Exchange in Thailand After Thai SEC Filed Criminal Complaint

Reading time: 1 Minute

Crypto exchange Binance is launching a new exchange in Thailand after the country’s Securities and Exchange Commission (SEC) filed a complaint against the company for operating without a license. Binance has now signed an agreement with Gulf Energy Development, a Thai public company, to establish a crypto exchange in Thailand.

Binance and Gulf Energy to Establish a Crypto Exchange in Thailand

Gulf Energy Development, a Thai public company, notified the Stock Exchange of Thailand (SET) Monday that its wholly owned subsidiary Gulf Innova has entered into a Memorandum of Understanding with Binance Group “to jointly study avenues for the development of digital asset exchange and related business in Thailand.”

READ THIS  CBN To Unveil Its New Digital Currency, “E-Naira”

The company added that it “foresees rapid growth in digital infrastructure in Thailand as the economy increasingly becomes driven by innovation and technology, with digital assets and related technology playing a prominent role in improving efficiency of financial infrastructure in the country to meet the increasing demand of Thai people.”

Related Posts

Gulf Energy detailed:

READ THIS  An African Perspective on Why Cryptocurrencies Are Important for the World

As such, the company’s partnership with Binance will help Thailand advance its development of digital assets and blockchain infrastructure.


Binance recently got into trouble with the Thai SEC. The securities watchdog announced in July last year that it “has filed a criminal complaint against Binance” with the Economic Crime Suppression Division of the Royal Thai Police (ECD).

According to the SEC, Binance operated a crypto exchange business without a license, therefore the company is “liable to criminal sanction.”


You might also like


Leave a comment