Binance secures operating license in Thailand, its first in Southeast Asia Cryptocurrencies
Gulf Binance is a joint venture between Binance and Gulf Innova, the Thai subsidiary holding company Gulf Energy. With the license, Gulf Binance will be able to move forward with plans to open a digital asset exchange and digital asset broker that are regulated by Thailand’s Securities and Exchange Commission.
“We are grateful and honored to be granted digital asset operator licenses for Gulf Binance in Thailand,” said Richard Teng, Binance’s Head of Asia, Europe, and MENA. “Local users can expect access to a trusted and regulated service that prioritizes user security alongside compliance with local regulations.”
Today’s announcement concludes a long saga for Binance in the country, one which saw the Thai SEC file a criminal complaint against the cryptocurrency exchange on July 2, 2021, accusing them of operating a digital asset exchange without a license. And on March 27, the U.S. Commodity Futures Trading Commission filed a lawsuit accusing Binance and its founder Changpeng Zhao of operating illegally in the country for years.
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