Thailand’s Securities and Exchange Commission (SEC) revoked the operating license of cryptocurrency exchange Huobi Thailand on Wednesday, prompting the company to say it will soon cease operations in the country.
In a statement posted to Huobi’s website, the company explained it will close the platform down permanently on July 1 and is working to contact its customers so that they can withdraw their assets from the exchange before it’s too late. According to data from CoinMarketCap, Huobi Global is a top-ten exchange, conducting $2.3 billion in trading volume over the past 24 hours.
“We are sorry our journey has come to the end,” said Huobi Thailand, adding, “We sincerely thank you for your long support.”
Huobi’s short-lived Thailand venture
Huobi’s venture in Thailand was a relatively short-lived one; the company launched its platform in the country just over two years prior in late February of 2020, according to its parent company’s website. And its services had been suspended...
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