The Thailand Securities and Exchange Commission (SEC) has announced to propose to the Ministry of Finance, permanent revocation of Huobi’s business license in the nation. Additionally, the Thai SEC has instructed Huobi exchange to subsist the suspension of its services in the country. Huobi has three months to return or buy back customers’ assets. This ban has come instead of Huobi’s failure to fix flaws pointed out by the commission months ago.
“During the suspension of such services, Huobi must return all assets to customers within 3 months from the date the SEC has the resolution to order.”, the SEC mentioned in its latest announcement.
SEC highlighted systematic flaws in Huobi’s functioning
SEC’s investigation into the exchange between February 2021 and March 2021 scouted systematic flaws within the functioning of the exchange. SEC highlighted inadequacy in Huobi’s trading, customer asset retention, information technology systems, etc. After SEC’s first notificati
Źródło: https://coingape.com/regulation-update-thai-sec-to-annul-huobis-license-in-the-country/
