In a concerted effort to tackle the escalating threat of online fraud, state authorities in Thailand have joined forces, emphasizing the need to regulate peer-to-peer (P2P) transactions involving cryptocurrencies. Led by Prasert Jantararuangthong, the Minister of Digital Economy and Society (DES), the collaborative initiative aims to curb the rampant use of P2P channels by scammers […]
In a move signaling the maturation of the crypto market in Thailand, Bitkub Capital Group Holdings, the proprietor of the nation’s foremost crypto exchange, has announced its intention to conduct an initial public offering (IPO) by 2025. This revelation was made by Jirayut Srupsrisopa, the CEO of Bitkub, during an interview with Bloomberg. According to […]
The Thai Securities and Exchange Commission (SEC) has ordered Zipmex to temporarily cease its operations as a digital asset trading and brokerage platform. This directive comes as the market regulator is demanding that the embattled cryptocurrency exchange make some changes to its management structure as well as improve its financial position. Zipmex Faces 15-Day Countdown […]
Zipmex, a Thai crypto exchange currently facing financial distress, has proposed a restructuring plan that includes paying its creditors a fraction of their original claims. According to Bloomberg, the exchange is offering its creditors “about 3.35 cents” on the dollar of their initial claims. This offer forms a key part of the company’s restructuring strategy […]
Thailand’s Kasikorn Bank (K-Bank) has made a significant move to strengthen its position in the digital asset space. According to recent reports, the bank acquired a 97 percent stake in Satang, a local cryptocurrency exchange. The deal, valued at 3.705 billion Thai baht ($102.8 million), marks K-Bank’s strategic entry into the rapidly growing Thai digital […]