Crypto exchange Binance told CryptoSlate it launched an “invitation-only” exchange in Thailand that would become available to the general public by next year, according to a Nov. 16 emailed statement. Gulf Energy Development Pcl, one of the largest businesses in the Asian country owned by billionaire Sarath Ratanavadi, said its subsidiary Gulf Innova partnered with Binance to launch Gulf Binance Co. On Nov. 10, the newly formed exchange obtained approval from the Thai Securities and Exchange Commission (SEC) to offer digital asset exchange and broker services for cryptocurrencies and digital t ..read more

Binance, the world’s leading blockchain ecosystem and digital asset infrastructure provider, recently assisted the Royal Thai Police in two primary operations to dismantle criminal networks engaged in crypto scams. According to a Binance blog post, these significant enforcement actions, marked by the arrest of principal members and substantial asset seizures, underline Binance’s commitment to buttressing user security and upholding regulatory compliance in the digital-asset ecosystem. In the first of these operations, codenamed ‘Trust No One,’ Binance’s Investigations team reportedly worked cl ..read more

In a massive cross-border operation, four Chinese nationals and a Lao citizen were apprehended over their alleged involvement in a multimillion cryptocurrency scam that left a trail of devastation and losses amounting to over 2.7 billion baht ($76 million), according to the Cyber Crime Investigation Bureau (CCIB). As the Bangkok Post reported, the fraudulent scheme trapped at least 3,280 victims through a deceptive cryptocurrency investment platform called BCH Global Ltd. The victims, who began reporting the fraud to police in November last year, were deceived into investing their money in gol ..read more

Thailand’s Ministry of Digital Economy and Society (DES) is taking steps to shut down Facebook in the country, citing harmful investment scams causing economic and public security concerns. Court petition filed. The move to petition the court comes after a sharp rise in scams where fraudsters buy ads through Facebook and trick people into investing by impersonating stock exchange and SEC symbols, among other tactics. “Neither the SEC nor the SET offer such investments,” states DES to clarify the situation. The ministry explains that the scams frequently peddle fake news to deceive the public i ..read more

As the world of cryptocurrency continues to evolve, so too does the regulatory landscape that governs it. In the United States, regulatory bodies are tightening their grip on crypto operations, while across the Atlantic, Europe is creating a more inviting environment for digital assets. Meanwhile, in Asia, Japan is pushing for relaxed trading rules and tax breaks for crypto firms, while Singapore is taking a more cautious approach. Finally, in the Middle East, Dubai is positioning itself as a haven for crypto projects and their founders—but only on own its terms. Atlantic markets The U.S. Secu ..read more

Circle, the USDC stablecoin provider, appears to be targeting the 74% of Asia Pacific (APAC) trade invoicing processed in US dollars between 1999 and 2019, as per FED estimates. In a recent blog post, Circle’s executives underscored the potential role of the digital dollar, specifically USDC, in the APAC financial landscape, given the persistent use of dollars over the past two decades. CEO Jeremy Allaire shared Circle’s vision regarding USDC in the APAC region, stating, “USDC takes the strength of the dollar and gives it the powers of the internet, enabling it to move as quickly and easily a ..read more

Belarus wants to ban peer-to-peer crypto transactions and introduce legislation that requires citizens to use regulated crypto exchanges, according to a July 2 statement from the country’s Ministry of Internal Affairs (MVD) VKontakte page. According to the Ministry, cybercrime is rampant in the country, with scammers cashing out and converting stolen funds into cryptocurrencies. MVD further claimed that the country’s cybercrime unit has cracked down on the activities of 27 citizens providing “illegal crypto exchange services” since the beginning of the year, noting that their total income from ..read more

The Asian crypto hub Singapore and neighboring Thailand have released new directives over the handling of digital assets in two announcements on July 3. Singapore’s six new requirements for crypto businesses The Monetary Authority of Singapore (MAS) issued six new requirements for crypto firms to protect crypto investors. In addition to the new rules, MAS banned exchanges from providing lending or staking services to its retail users. MAS said lending and staking are “generally not suitable” for retail investors. The central bank, however, said that exchanges could continue to provide lending ..read more

Thailand’s Ministry of Finance has granted a digital asset operator license to the joint venture between Binance and Gulf Innova, the exchange announced May 26. Gulf Innova is a wholly-owned subsidiary of Gulf Energy. The two firms entered into the joint venture in 2022 and have been working with Thai regulators to launch a “compliant-first exchange.” According to the press release, the goal of the partnership is to “drive innovation, foster growth, and deliver the best value possible to Thai users.” Gulf had previously invested in Binance.US. With the license, Gulf Binance aims to launch its ..read more

Thailand-based crypto exchange Zipmex’s $100 million rescue plan has hit a snag as the investor failed to make a $1.25 million payment due on March 23, Bloomberg reported on March 24. Zipmex reportedly said the failed payment could force it to liquidate its technology unit and suspend its payroll. Bloomberg reported that the exchange is uncertain about when the expected payment would be made. It added that the firm was working with its advisers on the next steps. The Asian exchange had entered into a  memorandum of understanding with venture capital firm V Ventures to acquire it for $100 ..read more