The Thailand subsidiary of the Huobi cryptocurrency exchange had its operating license revoked by the country’s Securities and Exchange Commission (SEC) for failing to comply with the system security requirements laid down by the regulator.
The Thai outfit Huobi was first flagged in March last year for its inadequate system measures. It was then suspended in September on grounds that its customer asset retention platform, information technology system and trading systems were below standards. The suspension came with numerous extensions granted for the trading platform to fix the flagged issues, but no progress was made.
“The Minister of Finance, on the recommendation of the SEC, has ordered the revocation of the digital asset exchange business license of Huobi (Thailand) Co., Ltd. (Huobi), which was later renamed to D. Esdaq (Thailand) Co., Ltd. since May 17, 2022, as the SEC has the resolution to recommend to the Minister of Finance. due to failure to rectify the work system and...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...