Huobi to Shut Down Thai Operations in July

Huobi Thailand is no longer an authorized digital asset exchange in the country. The company has decided to permanently shut down its operations in Thailand from 1 July 2022.

According to an official announcement by the Thai Securities and Exchange Commission, the license of Huobi Thailand has been revoked after the digital asset services provider failed to fix system issues despite several extensions.

“The Ministry of Finance, on the recommendation of the SEC, considered that Huobi violated and failed to comply with the SEC’s order conditions under Article 35, paragraph one and paragraph two of the Digital Assets Act. Therefore, by virtue of Section 35, paragraph three of the Digital Assets Act, the…

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