Siam Commercial Bank postpones acquisition of Thai crypto exchange Bitkub.
SCB Postpones Acquisition of Thai Crypto Exchange Bitkub
“We have made it clear in our statement to the Stock Exchange of Thailand that the deal is still undergoing due diligence,” an unnamed senior official at the SCB X has been quoted as stating. “We don’t know when the deal will be sealed,” he added. Earlier in July, the company notified the SET that the matter is still being discussed with regulatory bodies and that its completion period had been extended.
The delay followed an announcement by the Bank of Thailand and the Securities and Exchange Commission of tougher regulations for cryptocurrencies in February. The new rules limited their use in payments and aimed to ensure they can be traded only on platforms licensed in the country. Meanwhile, the crypto market slump also dimmed hopes that Bitkub could expand its customer base.
Let me put it this way, I think the tight regulations are quite unfriendly to crypto trade and limit the growth of crypto trading to less than we expected.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Strict Thai crypto regulation causes SCB to delay Bitkub acquisitionA high profile TradFi and DeFi partnership in Thailand won’t be happening any time soon. The country’s oldest bank was unable to acquire the country’s largest local cryptocurrency exchange due to stringent crypto regulations.
Read more »
Crypto Exchange Zipmex Halts Withdrawals Citing Market Conditions, Financial Difficulties of Business Partners – Exchanges Bitcoin NewsCrypto exchange Zipmex, which operates in Singapore, Australia, Indonesia, and Thailand, has halted withdrawals. cryptocurrency bitcoin $BTC
Read more »
Crypto Exchange Gemini Axes 7% of Its Staff in Second Wave of Layoffs – Exchanges Bitcoin NewsGemini, a regulated, U.S.-based cryptocurrency exchange founded by the Winklevoss twins, is reducing the size of its workforce, according to sources.
Read more »
Strict Thai crypto regulation causes SCB to delay Bitkub acquisitionA high profile TradFi and DeFi partnership in Thailand won’t be happening any time soon. The country’s oldest bank was unable to acquire the country’s largest local cryptocurrency exchange due to stringent crypto regulations.
Read more »
Spanish Crypto Exchange Bit2me Won't Absorb 2gether Customers Due to Internal Discrepancies – Bitcoin NewsAccording to a blog post issued by the company, Bit2me's deal to absorb the customer base of 2gether was not completed due to internal discrepancies.
Read more »
Crypto.com to roll out Google Pay integration as Big Tech continues to embrace cryptoGlobal cryptocurrency wallet and exchange platform cryptocom will add Google Pay as a payment option for Android users. The move could allow over 100 million users to make use of the latest gateway to crypto markets. (Reporting via gazza_jenks)
Read more »