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Mr THC

A year ago

HUOBI TO SHUT THAILAND CRYPTO UNIT AS REGULATOR REVOKES LICENSE

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Finance

A year ago

Huobi Technology Holdings Ltd., a Hong Kong-listed operator of a cryptocurrency platform, will shut its unit in Thailand after the local regulator revoked its license.

The local platform will be shut “permanently” from July 1, according to a Huobi Thailand Co. statement on its website. Huobi Thailand will no longer have any connections nor legal bindings with Huobi Group after the closure, the statement said.  

Services the platform had provided included trading of an array of digital assets such as Bitcoin and Ether. 

 

Thailand’s Securities and Exchange Commission in May revoked the firm’s crypto-exchange license after it failed to set systems and personnel in accordance with rules and regulations, the regulator said in statementWednesday. The company’s operation had already been suspended by the SEC since September because of similar issues. 

“We have been trying our best efforts to contact all customers to withdraw assets,” the statement said. “However, there are still an amount of out of reach customers.”

 

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