Thailand SEC Files Criminal Complaint Against Binance

The SEC alleges the crypto exchange is operating a digital-asset business in the country without a license.

AccessTimeIconJul 2, 2021 at 10:30 a.m. UTC
Updated Sep 14, 2021 at 1:20 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Binance's woes continue as Thailand's Securities and Exchange Commission (SEC) filed a criminal complaint against the crypto exchange for allegedly operating in the country without a license.

  • The securities regulator filed the complaint with the Economic Crime Suppression Division of the Royal Thai Police (ECD), saying Binance had failed to meet a deadline for responding to an earlier warning , according to an announcement on the SEC's website Friday .
  • The SEC claims the exchange solicited the Thai public to use its services via its website or the "Binance Thai Community" page on Facebook.
  • That means Binance is operating an unlicensed digital-asset business, the regulator said.
  • "Only providers who have obtained relevant licenses under the law are allowed to provide services related to digital asset trading, exchange, depository, transfer, withdrawal or any transactions related to digital assets," the SEC said.
  • The regulator said it issued a warning letter on April 5 this year requiring Binance to submit a written response. It failed to do so within the specified time, the SEC said.
  • The complaint comes at a turbulent period for the crypto exchange. It has received a warning over a similar matter from the regulator in Japan, been barred from conducting regulated activity in the U.K. and pulled out of operating in Ontario following regulatory action against fellow exchanges in the Canadian province.
  • Binance did not immediately respond to CoinDesk's emailed request for comment.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.