Interesting. It makes me wonder why all of these countries suddenly have a problem with Binance. If I were of the tin foil-wearing crowd, I might think there's a conspiracy of some sort going on. But this is also interesting:
Under the law, managers of the exchange may face penalties of up to two to five years in prison and a fine of 200,000 to 500,000 baht (about $ 6,000 to $ 15,500) and a fine of more than 10,000 baht ($ 310) for each day of operation. Receive their illegal.
Prison time would suck, but this is a company we're talking about, so I doubt anybody would be going to jail. That range of fines seems quite low, and I'm pretty sure that doesn't worry Binance all that much. What probably does worry them is that the Thai government thinks they're operating illegally in that country, since Binance is a legitimate exchange that does things by the book.
If I'm not mistaken, Binance offers its services globally and isn't attempting to operate in Thailand specifically. I wonder if Binance would have a strong legal case if they chose to challenge this.
Even if they really find fault in Binance Thai, it won't be shut down. Obviously, binance had to allow users to pay Thai Baht like how they do operate in every country and they have p2p for local currency. It's not specified how they do it on facebook but I don't think binance has some page where they could ask for Baht in exchange for cryptocurrency without going thru banks or an app. This is going to be just a small hiccup as Fud after all everything is negotiable these days.
Yeah, that's kind of what I'm thinking as well. There's no way Binance is going to cease operations altogether, though I'm not sure what they're going to do about this situation. As you said, everything is negotiable so they might come to an agreement with Thailand's SEC whereby they create a version of Binance that complies with Thai laws (kind of like what they did in the US).
