Topic: Thai SEC files criminal complaint against Binance - page 2. (Read 218 times)

Yeah, I do hope so because I have a lot of stakes in Binance and that's the last thing that I want but I am trying to put all the possibilities out there and I am glad that I am wrong about it.

XD XD

"likeliness of shutting down is high." YEA. Who will shut down binance? Ronald McDonald? Bitmex CEO was arrested in US for running Bitmex ... Bitmex is still not closed...

They have the most capital in the whole crypto, the best lawyers, the best workers that are responsible regulations:

Cryptocurrency Giant Binance.US Hires Former Top Bank Regulator
Binance Hires Former US Senator Max Baucus

Thats multi billion $ business. No one is going to shut them down.

@OP Who cares about Thai SEC? For sure not binance investors - no one is dumping on this FUD

They'll probably find ways to weather this out, and even in worst-case scenario, those listed coins should have nothing to worry about.

If Binance has to stop operating in all these countries, then they'll just usher everyone onto their BSC platforms and get everyone to go trade on Pancakeswap or whatever. I don't know, maybe that's what they wanted to do all along with BNB and BSC.

Shutting down? Nah, it's a long time away. They'll find somewhere, or pay enough fines.

It seems to me that Binance is under fire and I don't think that it's going to be any good for any cryptocurrencies listed on the platform because people will try their best to evacuate out of the platform because they don't know what's going to be happening to this lawsuits against Binance and the likeliness of shutting down is high.

The Thai Securities and Exchange Commission (SEC) announced on Friday that it has filed a criminal complaint against the exchange for its unlicensed and unregistered Binance activities in the country.
According to the organization, Binance exchanges cryptocurrencies through its website without permission. In addition, it has encouraged Thais to use the exchange's services through the Binance Thai Community website or Facebook page; Therefore, it can be prosecuted.
The watchdog said in a statement on April 5 that it had warned Binance and requested a written response, but that the exchange had not responded to the letter within the specified time.
Binance and its affiliates have received warnings from regulators in several countries, including the United States, Britain, Japan, the Cayman Islands and Singapore. But Thailand's recent move seems to be one of the most important to date against Binance, as it is not just a warning but a criminal complaint against the exchange.
According to the lawsuit, the Thai Stock Exchange Commission claims that Binance Exchange has violated Thai cryptocurrency rules defined by the emergency order of digital asset-related businesses. 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.


Source: https://www.theblockcrypto.com/post/110380/thailand-sec-binance-crypto-exchange-criminal-complaint