Thailand's (SEC) Securities and Exchange Commission has documented a criminal grumbling against a crypto money trade after specialists gave comparative admonitions to Binance and related organizations in the Cayman Islands, Britain, and Japan. The SEC said Friday that it had filed the complaint against Binance with the Royal Thai Police Economic Crime Suppression Division, and the Securities and Exchange Commission said it sent a warning letter to Binance on April 5 but the company did not respond within the timeframe. The Cayman Island Monetary Authority (CIMA) posted a note on its website on Thursday that Binance was not authorized to run a cryptocurrency exchange in the country.
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| Binance in Trouble with Thailand and Islands, UK, Japan |
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Binance is in trouble because the Thai (SEC) Securities and Exchange Commission has filed a criminal complaint against the company for operating an unlicensed digital asset business. The gavel fell on Binance after the company received a warning from Britain's Financial Conduct Authority for operating in Thailand without a permit. Since then, a growing number of regulators have followed suit: Binance and the SEC submitted criminal problems to crypto exchange authorities in the Cayman Islands, the United Kingdom, and Japan, and gave similar warnings to Binance and relevant companies.
This is not a direct offer or request to buy or sell, or a recommendation or endorsement of a product, service, or company. The Securities and Exchange Commission of Thailand (SEC) said on April 5 it issued a warning to Binance, but at the time the company did not respond. Binance, Binance Group, and Binance Holdings Limited are not registered in Oregon, licensed or regulated, and have different authorizations to operate a cryptocurrency in the state of Oregon, which is the wrong country.
This is not an uninterrupted connection to Oregon advertising or connection to the business they sell, their proposal, or endorsement of their products, services, or businesses. Binance users face the suspension of fiat withdrawals and deposits, following warnings from the UK. The Securities and Exchange Commission says Binance operates as a crypto exchange without a business license.
The security agency said it informed Binance and Connect on April 5 that Binance had no taxable effect and had acted incorrectly at the time. Binance could be punished with imprisonment of two to five years and fines of 200,000 to 500,000 baht under Section 66 of the Decree of Emergency for Digital Assets.
The Security and Security Watchdog said on April 5 that it sent a warning letter to Binance, but Binance failed to respond within the scheduled time limit. They (US companies) are adjusting to the fear of the hot breath of US investigators.
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