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Thai Regulator Fines Bitkub, Its CEO for Trading Irregularities

June 30, 2022, 10:32 AM

Thailand’s market regulator found Bitkub Online, an operator of digital asset exchange, and its chief executive officer guilty of creating “artificial trading volume” on its platform.

  • Bitkub, its CEO Sakolkorn Sakavee and Anurug Chuachai must pay a combined fine of 24m baht for violating trading rules, Securities & Exchange Commission says in statement Thursday
  • Sakolkorn and Anurug in 2019 collaborated in misleading investors about the cryptocurrency trading volume on the company’s exchange, it says
  • Bitkub and Sakolkorn had knowledge about the irregular action of Anurug but failed to take necessary steps
  • Sakolkorn will be also banned from becoming a corporate ...