Huobi Thailand gets the license withdrawn, plans to exit in July
Huobi Thailand gets the license withdrawn, plans to exit in July
- the Thai branch of Huobi was withdrawn from the operating license and he will hire the company in the country until July 1
- users are urgently asked to withdraw their digital assets from the platform before the final date
The crypto exchange based in Asia said Huobi on Thursday that her Thai branch would hire his business after the state's financial supervisory authority had decided to revoke its license.
Huobi Thailand is no longer an authorized stock exchange for digital assets after the board of the Thai Securities and Exchange Commission (SEC) has made its decision, Huobi said in a rel = "Nofollow noopener" Target = "_ blank" href = "https://www.huobi.co.th/th-th/notice/detail/#id=2764"> statement on his website.
The Thai company will not be connected to the Huobi group or legally bound to them, and customers are urgently asked to withdraw their digital assets before the date of closure by July 1st
Some of its concerns, said the SEC, refer to how Huobi Thailand failed to correct its systems and staff in accordance with the corresponding announcements and rules that were determined by the regulatory authority in May.
The business activity of the company was suspended in September for the same reasons for an investigation by the regulatory authority in March 2021.
Huobi Thailand had a trade license issued by the Thai Ministry of Finance for digital assets when it took up its business in the kingdom more than two years ago.
Thai users were able to buy four cryptos on Thai baht from February 2020, including Bitcoin, Ether, Huobi token and Tether.
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The contribution Huobi Thailand is given license, plans for the exit in July are not financial advice.
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