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Crypto Exchange Binance Gets Operating License in Thailand

After a yearlong struggle and several tries, Binance Exchange has finally managed to get a certification from the financial regulators in Thailand. The Southeast Asian wing of Binance was able to get approval from the government by getting some help from the local public limited companies.

It means that Binance is now working with the native companies of the region to work as a cryptocurrency exchange for Thai consumers.

The Thai wing of Binance has been named as Gulf Binance and it is working in collaboration with Gulf Innova Co. This public limited company of Thailand is a subsidiary of the conglomerate named Gulf Energy.

It is important to mention that Binance has essentially made a comeback in Thailand after a year of struggling with the local financial regulators. The last time Binance was operating in the region it was dispelled on account of operating without a registration.

Binance Exchange has established itself as a global cryptocurrency exchange. The firm was ousted by the financial regulators of Thailand on account of criminal complaints. However, during the exile from Thailand, the exchange has remained operational in neighboring Southeast Asian regions such as the Philippines.

It is worth noting that Binance has not applied for registration in various other similar jurisdictions on account of no legal coercion from the local regulators.

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Meanwhile, Binance continued to reestablish the Thai wing since last year. The firm partnered with Gulf Energy to clear the path for a sooner and more effective path to acquiring a trading license.

Binance has managed to become a regulated crypto exchange in the region on account of its association with a public limited and native corporation. At the same time, Binance has continued to face regulatory issues in other jurisdictions such as Australia.

Binance is Planning to Establish a Regulated Crypto Exchange in Thailand

At one end, Binance is dealing with the license revocation in Australia on account of charges of misleading the investors about risk asset investment. The financial regulators in Australia have alleged that the risk asset the firm offered to the retail investors were targeted at wholesale consumers.


Binance and Gulf Energy are resolved to form a compliant-first cryptocurrency exchange as per a new statement issued by the venture.

A survey conducted by Triple-A has revealed that around 6.74% of Thai citizens or 4.3 million people in the country own cryptocurrencies. The regional head of Binance Asia, MENA, and Europe has told the media that the firm intends to establish a regulated and trusted cryptocurrency exchange.

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He also mentioned that the country has shown a strong commitment towards adhering to the crypto standard. Binance is likely to reopen business for the public sector in the 4th quarter of the current year.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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