Thai regulator urges revocation of Huobi bitcoin exchange license

The Securities and Exchange Commission of Thailand (SEC) has asked the Ministry of Finance to revoke the digital asset trading license of Huobi’s local subsidiary. This is stated on the site.

According to the statement, between February and March 2021 the regulator identified deficiencies at Huobi Thailand. The company was required to bring its operations into compliance with the law by 31 August.

According to the SEC, as of 2 September the company had not complied with the requirements and had not corrected the identified issues.

“The Securities and Exchange Commission has decided to… recommend to the Minister of Finance to consider revoking Huobi’s license,” the notice says.

In May the bitcoin exchange suspended the provision of some services and products in certain jurisdictions, and also ceased hosting miners in mainland China.

Later Huobi blocked access to crypto-derivatives trading for citizens of China, the United Kingdom and several other countries.

In August, the Spanish regulator warned Huobi and several other companies about operating without registration.

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