The Securities and Exchange Commission of Thailand (SEC) revoked the license of cryptocurrency exchange Huobi. The regulator said the exchange failed to comply with local rules and failed to comply with regulators’ requirements to change trading systems.
“Due to the SEC decision, Huobi Thailand is no longer an authorized digital asset exchange in Thailand. We will permanently close the platform on July 1, 2022,” the company said.
“The Minister of Finance, on the recommendation of the SEC, deemed that Huobi did violate and failed to comply with the terms of the SEC’s order. Huobi’s license to do business with digital assets in the digital token trading center category has been revoked effective May 17, 2022,” the regulator said.