• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Thailand’s financial watchdog halts Huobi’s operations in the country
Thailand

Thailand’s financial watchdog halts Huobi’s operations in the country

September 8, 2021 by Sahana Kiran

Thailand’s Securities and Exchange Commission went on to stop prominent cryptocurrency exchange Huobi from functioning in the region after it did not comply with the regulations put in place.

The crypto-verse has been heavily monitored by regulators from across the globe. As more and more people have been diving into the crypto market, regulators have started to take charge and be more stringent with regard to laws. The Thailand government seemed to be taking an extreme step after it encountered trouble with Huobi.

In a recent announcement, the Thai SEC revealed that it had temporarily halted Huobi from operating in the country. Alongside this, the financial watchdog hopes to revoke the crypto exchange’s license.

Thailand SEC hopes to revoke Huobi’s license

In the notice, the SEC pointed out that it had given Huobi exactly three months to give back its customers their respective assets. The Thailand SEC reportedly called out the exchange back in February 2021 for its breach of compliance. However, the exchange did not match the requirements put forth by the regulator. Despite this, the SEC went on to give Huobi an extension up until the end of August 2021.

The announcement further read,

“The SEC, in its meeting no. 15/21 on September 2, 2021, considered that Huobi did not modify the above work system to comply with the relevant rules as ordered by the SEC. .T. Even the SEC has extended the correction period several times as requested by Huobi, including the total amendment period of 5 months and 12 days. Huobi can’t fix it. It is a system that is important to business operations, such as a trading system, a customer asset retention system. and information technology systems. “

Additionally, the regulator intends to revoke the exchange’s license with the Ministry of Finance. This could make this temporary suspension a permanent one.

Filed Under: News, World Tagged With: Huobi, Thailand

Primary Sidebar

Recent Posts

  • JPMorgan Begins Utilizing Blockchain for Collateral Settlements May 27, 2022
  • MetaMask Joins Hands With Asset Reality to Assist in Recovering Stolen Crypto May 27, 2022
  • Bitcoin knowledge, the biggest flex May 27, 2022
  • Fakesters use LUNA 2.0 airdrops to target users May 27, 2022
  • Tether-ing in Mexico May 27, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.