Crypto News– Binance, the world’s largest cryptocurrency exchange, is gearing up to broaden its global presence with the impending launch of a crypto exchange in Thailand.
Binance Thailand Crypto Exchange Launch Looms, Highlighting Ongoing Concerns About Potential Scams
Teaming up with Gulf Innova, a subsidiary of Gulf Energy Development, Binance’s expansion into the Thai market has received the green light from Thailand’s Securities and Exchange Commission. In an official statement to the Stock Exchange of Thailand, Gulf Energy Development disclosed that Gulf Binance had successfully obtained the required licenses from Thailand’s Ministry of Finance, marking a pivotal moment as a regulated digital asset operator.
The company emphasized in its filing:
“Gulf Binance’s digital asset platform will offer digital asset exchange and digital asset broker services for both cryptocurrencies and digital tokens, prioritizing security and compliance with SEC regulations.
Government Implements Fresh Regulations on Cryptocurrency Taxation and Security Measures
In a significant undertaking, Binance played a pivotal role in dismantling a sprawling transnational cryptocurrency scam network, resulting in the apprehension of multiple individuals and the seizure of opulent assets and cash.
Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, underscored the global reach of their security initiatives, stating,
“Our continuous efforts have yielded concrete outcomes, underscoring that authentic security knows no boundaries.”
The forthcoming launch of the Binance exchange in Thailand coincides with the backdrop of evolving regulatory landscapes. In general, there is an anticipation that the country’s new government will adopt a more crypto-friendly stance.