OKX breaches Thai license regulations
31 March 2025 Thailand
Image: Marcin/stock.adobe.com
Thailand's Securities and Exchange Commission (SEC) has filed a criminal complaint against Aux Cayes Fintech, the digital asset platform provider of OKX, for operating a digital asset exchange business without a license.
The SEC's investigations found that OKX offered trading and exchange services for digital assets, as well as promoted these services through its websites and social media channels, without the license to do so in Thailand.
Nine individuals have also been charged for promoting OKX's services and attracting users to its platform, which the SEC has classed as "assisting or facilitating OKX in operating a digital asset exchange without license."
Following the criminal complaint, the SEC will consider further legal action and the criminal enforcement process will proceed with an investigation by the inquiry official.
The SEC's investigations found that OKX offered trading and exchange services for digital assets, as well as promoted these services through its websites and social media channels, without the license to do so in Thailand.
Nine individuals have also been charged for promoting OKX's services and attracting users to its platform, which the SEC has classed as "assisting or facilitating OKX in operating a digital asset exchange without license."
Following the criminal complaint, the SEC will consider further legal action and the criminal enforcement process will proceed with an investigation by the inquiry official.
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