Binance – The Giant Crypto Exchange, Under Regulatory Scrutiny

Thailand’s Securities and Exchange Commission said in a statement that Binance Crypto Exchange had been operating a digital asset business “in the category of a digital asset exchange” without a license.

On Friday, Thailand‘s financial government lodged a complaint against cryptocurrency exchange Binance for running a digital asset business without a license, the latest in a series of government crackdowns on the site. Binance had been running a digital asset business “in the category of a digital asset exchange,” according to Thailand’s Securities and Exchange Commission (SEC).

The Commission had written to Binance Crypto Exchange in April, alerting it about its operations, but had received no answer, leading it to file a criminal complaint with Thai authorities, according to the statement. Binance’s office refused to respond to the Thai complaint but said the company operates effectively with authorities and took its compliance commitments seriously.

The company, one of the world’s largest exchanges, was restricted from operating regulated operations in the country by Britain’s financial watchdog last week. Last week, Japan’s regulator stated Binance was operating unlawfully in the nation, while Germany’s regulator warned in April that it might face charges for selling tokens linked to stocks. Binance was investigated by the US in May, according to Bloomberg.